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Meta not ‘innocent bystander’, says ACCC in fight to keep crypto ad case alive
Competition & Consumer Protection 2025-06-04 11:50 pm By Cindy Cameronne

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…

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Marsh points finger at UBS in $7B Greensill cases
Financial Services 2025-05-27 11:24 pm By Cindy Cameronne

Insurer Marsh has fired off a cross-claim against Swiss bank UBS in several cases brought over Greensill’s $1.7 billion collapse. 

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Trial pushed off in sprawling litigation over Greensill collapse
Restructuring & Insolvency 2025-04-10 11:41 pm By Sam Matthews

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.

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Judge won’t toss claims in Fitch Ratings class action
Class Actions 2025-04-03 4:07 pm By Julia Kanapathippillai

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.

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Judge disqualifies himself from hearing Greensill cases
Insurance 2025-02-20 11:01 pm By Cindy Cameronne

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. 

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Kraken crypto exchange operator Bit Trade must pay $8M penalty
Cryptocurrency 2024-12-12 5:03 pm By Julia Kanapathippillai

The Australian operator of crypto exchange Kraken has been ordered to pay $8 million for failing to comply with design and distribution obligations.

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ASIC seeks $20M penalty against Kraken crypto exchange
Cryptocurrency 2024-11-14 11:22 pm By Andy Sidler

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.

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Judge strikes out ACCC’s entire claim against Meta over crypto ads
Competition & Consumer Protection 2024-09-06 12:25 pm By Cindy Cameronne

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.

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ASIC wins credit facility case against Kraken cryptocurrency exchange
Cryptocurrency 2024-08-23 11:03 pm By Sam Matthews

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. 

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Babcock & Brown liquidator wants to knock out fifth shareholder suit
Restructuring & Insolvency 2024-08-16 2:08 pm By Sam Matthews

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.

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