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A judge has ordered ANZ to pay $250 million in penalties in four cases by ASIC – $10 million more than the bank had agreed to pay – saying ANZ had "substantially deceived” the government by overstating bond trading volumes.
Delta Power & Energy, the owner of the Vales Point coal-fired power station in NSW, will defend ASIC proceedings accusing it of manipulating the market for electricity futures contracts by arguing that it acted honestly.
A judge has questioned whether an agreed penalty against ANZ for overstating bond trading volumes is sufficient, noting the misrepresentations were "very significant".
Construction PRO
Office provider Servcorp may amend a lawsuit against former MLC Centre owner GPT alleging it failed to disclose plans for major redevelopment works on the Sydney CBD high-rise before they signed a lease in 2014.
Insurers Bond & Credit Company and Tokio Marine can't eyeball advice given by Ashurst to lender White Oak in a dispute over the collapse of supply chain finance company Greensill.
Lender White Oak has argued it can shield an email that repeats legal advice from Ashurst that was accidentally disclosed to insurers Bond & Credit Company and Tokio Marine, which it has sued over the collapse of supply chain finance company Greensill.
Insurer Marsh has fired off a cross-claim against Swiss bank UBS in several cases brought over Greensill’s $1.7 billion collapse.
Two former Dick Smith executives have settled with the receivers of the defunct electronics retailer, dropping a High Court appeal over an $11.8 million ruling.
Commonwealth Bank and other lenders of Arrium have filed for special leave to appeal to the High Court after losing their latest bid to make two directors liable for allegedly misleading them about loan drawdown notices ahead of the steel company's $2.8 billion collapse.
The High Court has agreed to hear the appeals of two former Dick Smith exes following judgments that awarded a total of $55 million in damages to NAB and the receivers of the defunct electronics retailer.