CIMIC had no chance of winning stay of competing class action, judge says

Class Actions September 20, 2019 8:36 pm By Miklos Bolza

A judge has ordered engineering services firm CIMIC Group to pay the costs of a 2017 attempt to stay a competing class action against it, saying the bid was one the company “could never have successfully prosecuted”.

APRA loses case against IOOF over alleged misuse of $6.1M in members’ reserve funds
Financial Services September 20, 2019 10:04 am By Amelia Birnie

A judge has thrown out the prudential regulator’s case against IOOF over the alleged misuse of $6.1 million in superannuation reserve funds, in the first decision handed down in a case filed in the wake of last year’s explosive banking royal commission.

Ultra Tune wins $590K reduction in appeal of ‘manifestly excessive’ franchising penalty
Competition & Consumer Protection September 20, 2019 11:58 am By Amelia Birnie

National car repair franchise Ultra Tune has successfully appealed what it claimed was a “manifestly excessive” penalty for breaches of the Franchising Code of Conduct, with the Full Federal Court reducing the company’s $2.6 million fine by $590,000.