MILAN CAKIC

Admitted to Practice

  • Solicitor & Barrister of The Supreme Court of New South Wales (2006)
  • Solicitor & Barrister of The High Court of Australia

Expertise

  • Major litigation and class actions
  • Financial services and products claims
  • Professional negligence claims
  • Litigation funding

As one of Australia’s most experienced class action lawyers, Milan has achieved hundred of millions of dollars in settlements for his clients. He has an expert understanding of complex multi-party litigation in all superior and appellate courts. Milan has worked at national and top tier firms, as well as Royal Commissions of Enquiry.

Selected Cases

  • Volkswagen Emissions Defeat Device Class Action: acting for owners of Volkswagen, Audi and Skoda vehicles regarding the installation of engine-controlling computer software which worked to defeat emissions testing by regulatory authorities.
  • Nurofen Class Action: against Reckitt Benckiser, the maker of Nurofen Specific Pain Range products, for breach of consumer laws concerning the marketing of ibuprofen as being targeted to specific types of pain. Settlement of $3.5 million plus costs.
  • Dick Smith Class Action: on behalf of shareholders of an insolvent company, for failure to meet its ASX continuous disclosure obligations.
  • Ford Motors Class Action: acting for Ford vehicle owners with respect to defective dry clutch transmissions resulting in clutch slippage, bucking, jerking, causing sudden or delayed acceleration and/or sudden deceleration.
  • Telstra Class Action: the first settled shareholder class action in Australia for breach of ASX continuous disclosure obligations.
  • Qantas Class Action: against several international airlines for their failure to treat fuel surcharges as part of the applicable fare for the purpose of determining travel agent commissions.
  • Opes Prime Class Action: acting for clients of defunct stockbroker Opes Prime for misleading clients when providing securities lending arrangements in a margin lending context. Settlement with ANZ and Merrill Lynch totalling $253 million.
  • Centro Properties Group Class Action: at the height of the Global Financial Crisis regarding the liquidity of capital markets and material misclassification of Centro’s debt profile. Settlement with shareholders of $200 million.
  • OZ Minerals Class Action: at the height of the Global Financial Crisis, on behalf of shareholders regarding the misclassification of debt in reported financial accounts. Resulted in global settlement of $60 million.
  • Zinifex Class Action: acting for former shareholders of Zinifex regarding the acquisition of their shares by OZ Minerals in circumstances of imperfect financial disclosure.
  • QBE Class Action: acting in defence of QBE for non disclosure of material, price sensitive information to the ASX.
  • Clubs NSW Class Action: on behalf of clubs who suffered loss as a result of contracts regarding leased plasma screens which would show advertising, and from which the clubs were supposed to derive revenue.
  • Village Life Class Action: on behalf of Village Life shareholders concerning a breach of ASX continuous disclosure obligations in circumstances where Village Life was in liquidation. Settlement confidential.
  • Bell Potter Class Action: on behalf of dozens of clients regarding alleged manipulated the stock price of ASX listed entity Progen Pharmaceuticals.
  • Westpoint Property Group: four group actions against financial planners who promoted high risk mezzanine debt promissory note investments in Westpoint. The insolvency of Westpoint precipitated professional negligence claims against prominent financial advice firms.
  • Quintis Class Action: $122 million claim on behalf of shareholders for breach of continuous disclosure obligations.

Selected Advisory

  • World Nomads Group: advising the board and shareholders on the sale of an online business, ultimately sold for $95 million to health insurer NIB.
  • Advising on the corporate structure of an Australian mid-sized clothing retailer.
  • Advising a high net-worth individual with respect to a creditor contested personal insolvency arrangement.
  • Acting for a well-known investment bank in respect of a section 30 based ASIC investigation.
  • Acting for an accounting group in respect of ASIC licencing pursuant to the Superannuation Industry (Supervision) Act 1993.
  • Advising an international litigation funder on a portfolio of Australian litigation investments.

Qualifications

  • Bachelor of Economics, Sydney University (Finance & Economics) (1999)
  • Masters in Law & Legal Practice from the University of Technology, Sydney (Commercial Law) (2004)