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Westpac’s profits relevant, judge says in imposing $3M fees-for-no-service penalty
Financial Services 2021-07-22 9:35 pm By Christine Caulfield

Westpac has been ordered to pay $3 million after two subsidiaries admitted misleading hundreds of superannuation customers about the financial adviser fees they were charged, […]

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Greensill Capital likely insolvent one week before appointing administrators, report says
Restructuring & Insolvency 2021-07-22 11:29 pm By Christine Caulfield

Greensill Capital likely became insolvent on March 2, seven days before the Queensland-based financial services firm appointed administrators, the company’s liquidators have revealed. In a […]

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Westpac confirmed as largest Forum creditor, as administrators near sale of unit
Restructuring & Insolvency 2021-07-21 11:17 pm By Christine Caulfield

Administrators have lined up a buyer for a Forum Group entity, as a first creditors meeting confirms Westpac has the largest claim to any recoveries […]

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Westpac wants to block Forum Finance director from leaving Australia
Financial Services 2021-07-20 3:49 pm By Christine Caulfield

With $254 million at stake, Westpac wants a court order blocking the business partner of Forum Group founder Bill Papas from leaving Australia, as Papas […]

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Judge lashes ACCC’s Port of Newcastle case as ‘far-fetched and fanciful’
Competition & Consumer Protection 2021-07-20 10:54 pm By Christine Caulfield

The ACCC’s claim that NSW Ports stymied competition when it signed a 50-year agreement with the state to be compensated if the Port of Newcastle […]

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Crown Melbourne unsuitable to hold casino licence, commissioner told
Gaming 2021-07-20 11:42 am By Christine Caulfield

Crown Melbourne is not presently suitable to hold a casino licence in Victoria, counsel assisting the royal commission into the casino operator said Tuesday. It […]

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After GetSwift, judge could not hear split trial in Revlimid patent case, court told
Intellectual Property 2021-07-20 8:39 pm By Christine Caulfield

A proposal by Bristol-Myers Squibb-owned Celgene to split a second trial into two more hearings in a dispute over patents covering the pharmaceutical maker’s top […]

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Thorn Group latest lender caught up in alleged Forum Finance fraud
Financial Services 2021-07-19 10:15 pm By Christine Caulfield

Thorn Group is the latest lender ensnared in an alleged $400 million fraud by Forum Finance, with potential funds of up to $2.2 million tied […]

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GetSwift to resolve shareholder class action in ‘creative’ settlement
Class Actions 2021-07-16 10:00 am By Christine Caulfield

GetSwift has reached an agreement to settle a shareholder class action accusing the logistics company of misleading statements over contracts, avoiding a trial that was […]

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Allianz says joint class action would eliminate competition in contingency fee rates
Class Actions 2021-07-16 3:21 pm By Christine Caulfield

Consolidation of two consumer class actions against Allianz would do away with competition in a contest to lead a single case that would force a […]

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