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HSBC has agreed to pay a $35 million penalty in ASIC proceedings after it admitted to serious failures in protecting customers from scams, but a judge is questioning whether the penalty is high enough.
The High Court has slashed by 75 per cent the exemplary damages won by former youth detainees in Darwin who were unlawfully sprayed with tear gas, despite finding the conduct was "reprehensible".
Former directors of failed clothing retailer Mosaic Brands are claiming privilege over retainer letters between Deloitte and the company as special purpose liquidators investigate potential insolvent trading and directors duty breach claims.
A judge has ordered the former CEO and chief legal officer of Star to pay a combined $1.1 million in penalties for failing to act on "obvious" money laundering risks, but said the fines would have been higher had ASIC not struck a "generous" settlement with other directors.
Construction PRO
A judge has accepted that Cbus’ agreement to buy a 50 per cent stake in Sydney’s troubled Halo Tower could fall through if the beleaguered developer behind the project is forced to remain in administration, shooting down a challenge to a DOCA.
DC Comics is taking another swing at a Sydney man's bid to register 'kryptonite diet' as a trade mark, arguing he acted "willfully blind" or in bad faith in registering the mark given its sizable reputation in the fictional substance from the Superman franchise.
A NSW Supreme Court judge looking to bring class actions back to the state says legislation that would allow common fund orders at an early stage of proceedings was a "no-brainer".
A costs assessor that works in class actions said she'll be scrutising whether firms deploy AI to save costs and suggested judges should consider firms' uses of AI when deciding carriage fights.
An executive director at ASIC has said the High Court has “opened the door” for regulators to rely on a new way to prove corporate wrongdoing that does not require establishing that individuals within a company had a wrongful intent or relevant knowledge.
A judge has questioned whether Macquarie Financial should get 70 per cent of an interim $102 million distribution to people who sank their retirement savings into Keystone’s Shield Master Fund, which is being investigated for misuse of investor funds.