find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Centro relieved to move on: Middletons

Centro relieved to move on: Middletons

Middletons, which represented Centro in the long-running class action that ended this week with a $200 million payout, offered some insight today on its client’s views on the case.

Middletons, which represented Centro in the long running class action that ended this week with a $200 million payout, offered some insight today on its client’s views on the case.

The firm said that after four years embroiled in the class actions, its client will now be better able to move on with its business.

Mark Dobbie, a Middletons partners running the case, said: "The outcome is welcomed and means our client can focus on its business and building wealth for its security holders."

Dobbie said the case highlights the increasingly litigious landscape for Australian business, in which the rise of class actions continues to boom.

“While the outcome is desirable and a good one for our client, it still leaves general uncertainty for business more broadly as after 20 years of class actions in Australia, we still have no final judgement on key issues relevant to Australian securities class actions.”

David Hope, a Middletons partner who ran the case with Dobbie, pointed to the growing risk for Australian business.

“The increase in litigation funding and the ability to build class actions through public relations, advertising and social media means the risks to business are far greater. Boards are under greater pressure to plan for mitigating these increased risks.”

Centro Retail Australia reached an agreement to settle six proceedings, including a number of related shareholder class actions, brought against the two pre-aggregation Centro entities on behalf of group members represented by Maurice Blackburn and Slater & Gordon in the Federal Court in Melbourne.

These proceedings were commenced on behalf of shareholders who acquired securities in (what was then) Centro Properties Group and Centro Retail Group in 2007 and early 2008.

 

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Centro relieved to move on: Middletons
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...