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A judge overseeing a class action against National Australia Bank over ‘junk insurance’ has ordered that potential group members be given information about cancelling the policies, but not before taking the applicants to task for not having the polices automatically cancelled as part of the $49.5 million settlement.
A judge has ordered the Rinehart family to enter mediation in their feud over a $4 billion trust, saying it was "overwhelmingly in the interests of the administration of justice" to seek an end to the long-running and bitter dispute.
Litigation funder Augusta Ventures has had its appeal of a groundbreaking ruling that put it on the hook for security for costs in a Fair Work class action pushed back by three months after a delayed case management hearing, with a Federal Court judge telling the parties they were to blame.
A former executive of engineering giant Bechtel will be allowed to deduct over $11.8 million in share losses from his taxable income after successfully challenging a ruling to the Full Federal Court, in a decision that clarifies taxation law for income and capital regarding asset trades.
A judge has questioned whether he should sign off on a $49.5 million settlement in a class action against National Australia Bank over allegedly worthless credit card insurance, which he said had a "fundamental flaw" because it did not contain a provision automatically cancelling group members' policies.
National Australia Bank's "grossly deficient" systems and failure to swiftly bring its processes into compliance prompted ASIC to launch its second fees-for-no-service case against the bank, the Federal Court has heard.
Companies and other defendants forked over big sums last year to settle more than 20 class actions, with a total of at least $734 million being paid out. Here are the top 10 class action settlements and the law firms and funders that negotiated them.
A judge on Tuesday questioned how elderly group members struggling with the digital age can register in a 'junk' insurance class action against National Australia Bank, amid the postponement of hearing to approve the $49.5 million settlement reached in the case.
The National Australia Bank and insurer MLC have agreed to pay $49.5 million to settle a class action over allegedly worthless credit card insurance.
Litigation funder Augusta Ventures has brought its promised appeal of a groundbreaking ruling that put it on the hook for paying security for costs in an employment class action over the classification of casual mine workers.