Cameron Moore

A judge has ordered soft class closure ahead of mediation in a class action against five major banks over alleged foreign exchange rate-rigging, saying the applicant's subjective view on what will assist mediation should not be imposed on the banks.

A judge has questioned the applicant’s opposition to soft class closure in a class action accusing five major banks of rate-rigging, a measure the banks say could save “tens of millions” in legal expenses. 

The ACCC’s rejection of a $4.9 billion merger between ANZ and Suncorp was hardly surprising given the concentrated nature of the home loans market, but the competition regulator faced an uphill battle in having the decision upheld, an expert says.

The ACCC’s decision to block a $4.9 billion merger between ANZ and Suncorp has been set aside, with a tribunal finding the transaction will not substantially lessen competition in the home loans market or for agribusiness and SME clients in Queensland. 

A law firm that lost a contest to run a class action against Toyota unit Hino has appealed a decision to give the case to a larger rival based on past experience, saying the ruling would act as a deterrent to smaller firms wanting to enter the market for group proceedings.

Apple has failed to prevent a funder from accessing data that will allow it to estimate potential damages in a class action it's bankrolling over allegedly anti-competitive app store restrictions.

Companies and government entities paid out less to settle class actions in 2023 than in the previous two years, with no mega settlements hitting their pocketbooks.

A judge has awarded carriage of a class action against Toyota unit Hino to Maurice Blackburn, finding that the law firm’s experience and resources trumped those of small personal injury firm Gerard Malouf & Partners, despite its alliance with a large US firm. 

ANZ has criticised the ACCC’s objection to its planned $4.9 billion merger with Suncorp, arguing before a tribunal that the alleged "uncertain" effects on competition in banking was not a sufficient reason to block the deal.

Google and Apple will argue at an upcoming trial that allegedly anti-competitive app marketplace restrictions were necessary to protect security and intellectual property.