James Arnott

A judge has slapped defunct crypto firm Binance with a $10 million penalty for misclassifying around 500 retail customers as eligible to invest in risky derivatives intended for sophisticated investors. 

A judge has declined a funder’s bid for a $43 million payout in a class action accusing Colonial First State of charging excessive premiums, saying it was entitled to a 27.5 per cent commission but not $4.5 million for after-the-event insurance. 

Dexus can question APAC's chair on the material relied on by the Melbourne Airport operator in issuing a default notice requiring the real estate asset manager to sell its stake, ahead of trial in a fight over the validity of the notice.

Delivering his findings on ASIC’s action against Star Entertainment executives on Thursday, Federal Court Justice Michael Lee remarked that the “self-congratulatory submissions" of former board members named in the case were "jarring”.

ASIC has had mixed success in a case against former Star directors and officers, with a judge finding the casino operator’s former CEO and GC breached their duties but that claims against the former board fell short.

Dexus has halved the number of documents it claims are shielded by legal privilege from production to fellow owners of airport operator APAC ahead of trial over an alleged breach of a shareholder deed, a court heard Monday.

Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.

Binance has agreed to a $10 million penalty in ASIC’s case alleging the defunct crypto firm misclassified retail customers as eligible to invest in risky derivatives, but a judge wants more details before approving the deal.

The competition regulator has cited the public interest in its misuse of market power case against Mastercard in fighting suppression applications by the credit card giant and its heavy-hitter customers, including Coles and Visa.

A judge has ordered that a $5 million penalty ASIC won against Noumi be made available for distribution to group members in a class action against the food giant, on top of a $43 million settlement.