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AMP's financial planning unit was hit Wednesday with an enforcement action by the corporate regulator alleging its planners generated extra commissions by replacing, rather than transferring, life insurance policies for existing clients.
Herbert Smith Freehills has prevailed in a suit by United Petroleum alleging the law firm and former United chairman Martin Hudson breached their duties to the company when they pulled a planned initial public offering in 2016.
Regulating third-party litigation funders gets a resounding yes, but experts are divided on removing the ban on contingency fees and other recommendations for reforming the class action regime. Lawyerly spoke to defence and plaintiff-side lawyers, as well as funders, for their take on the recent proposals, and five major talking points emerged.
The Australian Competition and Consumer Commission is seeking special leave from the High Court to appeal a ruling in a case alleging drug giant Pfizer misused its market power ahead of the expiration of its patent for Lipitor.
Unlockd's administrators are weighing whether and how to continue the failed company's legal fight with Google and have won a reprieve from a second meeting of creditors while they consider the options, which include third-party litigation funding.
Two employer groups have lost their appeal of a Fair Work Commission decision that signed off on the merger of the Construction, Forestry, Mining and Energy Union with two other unions.
Any claims that Australia will face a US-style explosion of class actions if lawyers are free to charge contingency fees are unwarranted, the head of the Victorian Law Reform Commission told Lawyerly in response to criticism of recent litigation reform proposals.
Baby brand GAIA has lashed out at the consumer watchdog for issuing a press release announcing a $37,800 fine against the company for misleading 'organic' labels on three of its products, saying the release itself was "potentially misleading" to consumers.
The Fair Work Ombudsman lost its argument for $4.1 million in penalties against the CFMMEU for industrial action at shipping terminals in Sydney and Brisbane, with a judge instead fining the union just $38,000.
Danone's Nutricia unit has defeated a challenge by New Zealand's dairy cooperative Fonterra to registration of an Australian patent for the use of a nutritional pill for increasing weight gain in frail, elderly people.