The ACCC is again trying to fend off a strike-out bid by Facebook owner Meta in its case over cryptocurrency ads, arguing Meta has built a system in which the misleading ads can flourish and is not an “innocent bystander”. The regulator lodged the case in March 2022, alleging it breached the Australian Consumer Law…
Insurer Marsh has fired off a cross-claim against Swiss bank UBS in several cases brought over Greensill’s $1.7 billion collapse.
A judge has agreed to delay a trial by five months in a group of cases over supply chain finance company Greensill’s $1.7 billion collapse, over the vehement protests of the firm’s administrator.
Fitch Ratings has lost its bid for summary dismissal of claims in a class action over allegedly rosy ratings for risky derivative financial products issued 17 years ago on the basis that they are time-barred.
A newly appointed judge has disqualified himself from hearing a group of cases over Greensill’s $1.7 billion collapse, after he acted as counsel for insurer Marsh in a related dispute.
The Australian operator of crypto exchange Kraken has been ordered to pay $8 million for failing to comply with design and distribution obligations.
In the second test of the new design and distribution obligations under the Corporations Act, ASIC is seeking a $20 million penalty against the provider of the Kraken crypto exchange.
Over objections from the ACCC, a judge has struck out the regulator’s entire case against Meta over scam cryptocurrency ads on Facebook after it clarified that each allegedly misleading ad should be a separate contravention.
The corporate regulator has won its case against Bit Trade, the Australian provider of the Kraken crypto exchange, after a judge rejected the company’s argument that its product was not a credit facility.
The liquidator of failed global financial services firm Babcock & Brown is seeking to permanently stay a shareholder suit it says is an abuse of process, nearly five years after three other cases against the liquidator were thrown out.