Contradictor in 7-Eleven class action backs court’s power to make CFOs

TOP STORY
Class Actions 2020-10-20 3:51 pm By Miklos Bolza

A contradictor appointed in two class actions against 7-Eleven will argue before the Full Federal Court that the court has power both in equity and under the Federal Court of Australia Act to make common fund orders in class actions on settlement or judgment.

Icon wins dispute with insurers over Opal Tower coverage
Insurance 2020-10-20 5:20 pm By Miklos Bolza

Construction firm Icon Co has won a coverage dispute with its insurers over $31 million in losses stemming from Sydney’s ill-fated Opal Tower, whose residents were evacuated after cracks appeared in the tower’s walls on Christmas Eve in 2018.

‘O Come, All Ye Faithful’ inspired Twisted Sister rock anthem, Dee Snider admits
Trials 2020-10-20 1:27 pm By Miklos Bolza

Heavy metal singer Dee Snider has admitted under cross-examination that ‘O Come, All Ye Faithful’ influenced Twisted Sister’s rock anthem ‘We’re Not Gonna Take It’ but denied that he had “borrowed” elements of the Christmas carol for the 1985 hit.

Other stories
Societe Generale hit with $30,000 penalty for criminal breaches of client money rules
Financial Services 2020-10-21 1:08 pm By Christine Caulfield

The Australian unit of French investment bank Société Générale must pay a $30,000 penalty after pleading guilty to four counts of breaching client money handling rules.

In partial win for QBE, judge pares back ANZ add-on insurance class action
Class Actions 2020-10-20 9:36 am By Christine Caulfield

A judge has sided in part with QBE Insurance and pared back a class action over allegedly worthless add-on insurance sold by ANZ to credit card and personal loan customers.

Banned celebrity financial advisor Sam Henderson fined $10,000
Financial Services 2020-10-20 4:47 pm By Cat Fredenburgh

Former celebrity advisor and banking royal commission witness Sam Henderson has avoided jail time and been fined $10,000 after pleading guilty to dishonesty and defective disclosure offences for falsely telling clients he had completed a Master of Commerce degree.

Sydney lawyer can’t delay appeal in sports betting class action
Appeals 2020-10-20 12:31 pm By Cat Fredenburgh

A Sydney lawyer has lost her bid to vacate an upcoming hearing in her appeal of a judge’s finding that investors who sank $12.3 million into a fraudulent sports betting scheme run by convicted conman Peter Foster lost money because of her failure to come forward with the truth.

AIG settles case against ex-Kaboko Mining directors after D&O policy exclusion spat
Insurance 2020-10-20 1:06 pm By Cat Fredenburgh

AIG has settled a lawsuit brought by Kaboko Mining against several former directors alleging they failed to exploit commercial opportunities, after the insurer failed to convince an appeals court that an insolvency exclusion in the company’s D&O policy should exempt it from covering the claims.

Judge fines NAB $15M, questions ASIC’s ‘introducer’ investigation
Financial Services 2020-10-19 6:01 pm By Miklos Bolza

A judge has slapped National Australia Bank with a $15 million penalty over its scandal-ridden home loan introducer program but slammed ASIC’s investigation into the program, saying there was no “real regulatory desire to pursue a thorough investigation as to what in truth occurred”.

Arnold Bloch Leibler can’t use Slater & Gordon client files in class action defence
Class Actions 2020-10-19 8:54 pm By Christine Caulfield

A judge has dismissed a lawsuit brought by Arnold Bloch Leibler seeking to use information from its legal work on Slater & Gordon’s $1.2 billion acquisition of UK firm Quindell to defend itself in a class action brought by the plaintiffs firm’s shareholders.

Clive Palmer accused of ‘burning, notorious’ infringement as Twisted Sister copyright trial kicks off
Intellectual Property 2020-10-19 4:32 pm By Miklos Bolza

Universal Music has accused Clive Palmer of “burning, notorious” copyright infringement by using a rewritten version of Twisted Sister’s smash hit We’re Not Gonna Take […]

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Western Australia hit with stolen wages class action
Class Actions 2020-10-19 11:51 am By Cat Fredenburgh

The state of Western Australia is facing a class action by Indigenous workers seeking to recover stolen wages, after a historic $190 million settlement was […]

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Crown Resorts faces AUSTRAC investigation over potential money laundering breaches
AUSTRAC 2020-10-19 11:16 am By Christine Caulfield

Crown Resorts is the target of an investigation by AUSTRAC’s enforcement team in connection with its dealings with high-risk customers at its Melbourne casino. The […]

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