In 2008 Storm Financial collapsed and took the life savings of thousands of Australians with it. Levitt Robinson is acting for several hundred Storm clients in class actions against three of Australia’s major banks.
The actions are centred around allegations of unlawful lending practices and alleged participation in an Unregistered Managed Investment Scheme (“UMIS”) involving equity investment loans and margin loans.
In a classic David and Goliath scenario, Levitt Robinson are fighting the good fight against a squadron of major law firms who represent Australia’s biggest banks. The firm’s principal, Stewart Levitt, is leading the litigation.