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A fight over whether a class action applicant must fork over security for costs is not a matter of the strength of the case, says a judge presiding over a class action brought by superannuation holders against Commonwealth Bank of Australia and subsidiaries Colonial First State and Avanteos.
Two Westpac units have made admissions and said they would not defend proceedings brought by the Australian Securities and Investments Commission over fees charged for services that were not provided to hundreds of financial advice customers.