AMP has agreed to pay $100 million to settle a class action by financial advisers over its buyer of last resort policy, after suffering a loss at trial.
ASIC has escaped an individual insolvency practitioner’s bid for indemnity costs in its failed case alleging illegal phoenix activity, with a judge finding the regulator did not unreasonably reject a settlement offer that would have netted it “a considerably better result” than it won at trial.
Novartis unit Sandoz AG has filed an appeal after it was was barred from selling a generic version of top-selling blood clot drug Xarelto and failed to revoke two Bayer patents for the drug.
The state of Queensland has urged the High Court to step in after a Federal Circuit and Family Court judge was held personally liable for a man’s false imprisonment.
Australia’s cybersecurity shield will get a $600 million boost, with the Albanese government promising to address the risks posed by smart devices, make it easier for businesses to report a cyberattack, and streamline data retention obligations.
The Fair Work Commission has found that a salary packaging provider had “reasonable business grounds” to force workers back to the office, rejecting an employee’s bid to work full-time from home.
The High Court has denied a bid for special leave by the Commonwealth Bank and other lenders to challenge a ruling that found two Arrium directors did not mislead them about loan drawdown notices ahead of the steel company’s $2.8 billion collapse.
Ernst & Young has won a temporary stay of a lawsuit by Billabong founder Gordon Merchant alleging the firm gave negligent advice on how to structure the 2015 sale of bio plastics manufacturer Plantic Technologies.
The High Court has agreed to weigh in on how damages for reduction in value should be calculated under the Australian Consumer Law, granted competing special leave applications in a class action against Toyota over defective diesel filters.
Optus is considering an appeal of a judgment allowing a class action to access a report from Deloitte into last year’s major data breach, saying its release could raise national security concerns.