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15 November 2019
The Lloyds/HBOS litigation: The first shareholder class action judgment in England & Wales
The first judgment in a shareholder class action in England & Wales has been handed down by the High Court today in Sharp v Blank [2019] EWHC 3078 (Ch) (also known as The Lloyds/HBOS litigation ).
13 November 2019
One year of Model Declaratory Action in Germany – taking stock and outlook
Fuelled by revelations consequent of the Volkswagen diesel emissions technology cases, the German legislator hastily introduced a new law on Model Declaratory Action ( Musterfeststellungsklage ). This denotes an important step by the German legislator into the direction of collective redress in B2C...
01 November 2019
Myer: the first shareholder class action judgment in Australia
The first superior court judgment in a shareholder class action in Australia has been handed down by Justice Beach of the Federal Court of Australia in TPT Patrol Pty Ltd as trustee for Amies Superannuation Fund v Myer Holdings Ltd .
22 October 2019
2019 Global Bank Review
The 2019 edition of our Global Bank Review: The Data Game , explores the rapid growth of data as one of the most significant developments in the banking sector. That being the case, we are still only at the beginning of the data journey and its impact in the next decade or two will be even more...
11 September 2019
Class Actions in Australia: Emerging Trends
There have been a range of developments in the class actions landscape over the past year. The Australian Law Reform Commission completed its review of class action proceedings and third party litigation funding, an appeal is pending in the High Court of Australia on common fund orders and the...
07 August 2019
Policyholder successfully appeals refusal to apply one deductible to multiple claims in Class Action
In good news for policyholders defending class actions, the NSW Court of Appeal has ruled that multiple claims in a class action against Bank of Queensland over a “Ponzi scheme” should be treated as a single claim under the Civil Liability Policy’s aggregation clause, meaning that only one...
08 March 2019
Common fund orders upheld following historic joint sitting
Less than a month after an historic joint sitting of the Full Federal Court of Australia and NSW Court of Appeal, decisions have been handed down by both Courts, confirming the validity of ‘common fund orders’ in class action proceedings. 1
25 February 2019
The ALRC’s final report on class action proceedings and third-party litigation funders
On 24 January 2019, the Commonwealth Attorney-General tabled in Parliament the Australian Law Reform Commission ( ALRC )’s final report on class action reform: Integrity, Fairness and Efficiency—An Inquiry into Class Action Proceedings and Third-Party Litigation Funders ( Report ).
03 December 2018
Casual employment and double dipping continues to take centre stage
We discussed in our previous Legal Briefing 1 the flurry of recent activity with plaintiff-focussed litigation funders and law firms instituting and threatening to commence class action claims in the mining, direct sales and marketing, and labour hire sectors over the alleged underpayment of...
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15 November 2019
The Lloyds/HBOS litigation: The first shareholder class action judgment in England & Wales
The first judgment in a shareholder class action in England & Wales has been handed down by the High Court today in Sharp v Blank [2019] EWHC 3078 (Ch) (also known as The Lloyds/HBOS litigation ).
14 November 2019
Employees’ consent to data processing soon to be made electronic under German data protection law
When it comes to employment-related data processing, employers in Germany are regularly required to obtain consent from their employees by seeking their wet ink signature to be on the safe side. This additional administrative burden may soon be a thing of the past according to the recently approved...
13 November 2019
One year of Model Declaratory Action in Germany – taking stock and outlook
Fuelled by revelations consequent of the Volkswagen diesel emissions technology cases, the German legislator hastily introduced a new law on Model Declaratory Action ( Musterfeststellungsklage ). This denotes an important step by the German legislator into the direction of collective redress in B2C...
12 November 2019
Beneficial Ownership – Implementation, Supervision and Sanctions
If you only hold minority shares in a company, can you be considered a beneficial owner of that company from an Indonesian regulatory perspective? If the answer is “yes,” should your name be reported to the Indonesian authorities? Up to what level of ownership is a company required to disclose the...
12 November 2019
Casting the regulatory net over virtual assets – SFC finalises new regulatory framework for virtual asset trading platforms
On 6 November 2019, the Security and Futures Commission ( SFC ) issued a position paper setting out a new regulatory framework for the licensing of centralised virtual asset trading platforms, following the SFC’s conceptual framework issued last year.
08 November 2019
Seeking closure: how to minimise deal disruption
Mergers and acquisitions are increasingly taking longer to close. This is due in large part to the rapid rise in the number of antitrust regimes around the world and the increased willingness of antitrust regulators to intervene in transactions. Protracted deal timetables also mean that a...
06 November 2019
To infinity and beyond: The Fairness Doctrine
The implications of the recent Full Federal Court decision in ASIC v Westpac Securities Administration Limited [2019] FCAFC 187 ( ASIC v Westpac ) are far-reaching for the financial services industry. The case is, of course, a significant development in the laws concerning the parameters of general...
06 November 2019
Update on Indonesian Language Requirements for Contracts with Indonesian Parties
In this artilce, we look at how the introduction of Presidential Regulation No. 63 of 2019 on the Use of Bahasa Indonesia (“ PR 63 ”) dated 30 September 2019, which is the long-awaited implementing regulation of Law No. 24 of 2009 on the National Flag, Language, Emblem and Anthem (“ Law 24 ”), may...
