A senior ANZ executive was “deeply concerned” by the size of the shortfall in its $2.5 billion 2015 equity capital raising, the court heard on the first day of trial in ASIC’s civil penalty case against the bank over alleged disclosure breaches.
Insurer Bond & Credit Company has overcome an administrator’s protests and won leave to bring cross-claims against three Greensill entities in lawsuits over the financing firm’s $1.7 billion collapse.
App developers can be added as group members in class actions against Apple and Google alleging they engaged in anti-competitive conduct in operating their app stores, despite Apple’s concerns that the law firm running the case will owe conflicting duties.
Lawyerly’s Litigation Law Firms of 2022 racked up precedent-setting victories in a year that continued to see major developments in class action law.
A court has heard that casino giants Crown and Star are likely to reach agreement with AUSTRAC as to liability in proceedings alleging “widespread and serious non-compliance” with anti-money and counter terrorism laundering laws.
Uber has won a strike-out bid in a lawsuit by drivers challenging their classification as independent contractors, with a judge finding the pleading was “self-evidently, uncommonly and irretrievably deficient.”
Queensland government-owned water services provider Sunwater has lost a bid to overturn a judgment letting insurer Liberty Mutual Insurance off the hook for its share of a $440 million settlement in the Queensland floods class action.
In a boost to shareholder class actions, the High Court has dismissed an application by engineering services firm Worley to appeal a finding that companies should disclose to the market forecasts that ought reasonably to have been held.
An appeals court has dismissed a challenge brought by a Snap Fitness franchisee to a ruling that found insurer Lloyd’s could rely on a conformity clause in its policy to deny business interruption coverage to the NSW gym for losses related to COVID-19.
Mastercard had a legitimate and pro-competitive reason for reaching agreements with major retailers to choose its network over Eftpos for debit card processing, a court was told Wednesday in the competition regulator’s misuse of market power case against the financial services behemoth.