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The judge asked to approve a proposed $450 million penalty in AUSTRAC’s case against Crown Resorts has questioned whether the practice of regulators settling enforcement action ahead of trial gave rise to a "moral hazard” problem.
A proposed interest-free payment plan for a $450 million penalty agreed to between Crown Resorts and AUSTRAC has been questioned by a judge, who said it would have “the Commonwealth of Australia act as the Crown’s banker” for two years.
Toyota has denied allegations it fitted up to 500,000 diesel vehicles with engine devices designed to scam emissions tests, in a class action that could be “one of the biggest” in Australian history.
The lead applicant in a class action against AMP Financial Planning on behalf of 542 advisers has won $813,000 in damages after a judge found it could not retreat from a promise to buy back adviser businesses at four times their revenue.
A judge overseeing a shareholder class action against Insurance Australia Group says more evidence is needed to back the applicant’s bid for an order giving lawyers 30 per cent of any recoveries.
A judge has approved a $29 million settlement in a class action against Westpac over 'junk' consumer credit insurance, a deal that earns the bank's customers at least $19.6 million.
A $47 million settlement in a class action against ANZ -- one of three settlements in a series of class actions against the big banks over 'junk' consumer credit insurance -- was fair and reasonable, a judge has said.
A shareholder class action against KPMG and the directors of defunct mining company CuDeco is seeking insurance information and a limited number of documents from the directors ahead of mediation, to avoid a "train wreck" of a case, a court has heard.
A class action of bond holders accusing Virgin Australia of failing to disclose its true financial position in a 2019 prospectus for a capital raising wants a contentious indemnity clause in the airline's DOCA narrowed, in proceedings a judge has said “increasingly resemble a farce".
Crown Resorts has reached agreement with AUSTRAC to pay a $450 million penalty for the casino operator's serious breaches of the anti-money laundering and counter-terrorism financing laws.