Luke Livingston

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.

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.

A judge has questioned whether an agreed penalty against ANZ for overstating bond trading volumes is sufficient, noting the misrepresentations were "very significant".

Real estate asset manager Dexus has won access to advice given by the lawyers of two shareholders of airport operator APAC over an alleged breach of a shareholder deed. 

Dexus has claimed legal professional privilege prevents fellow owners of airport operator APAC from accessing tens of thousands of documents as they prepare for trial over an alleged breach of a shareholder deed.

The High Court has declined to hear an appeal of a ruling that found the directors of payday lenders Cigno and BSF are liable for the companies' unlicensed credit activity.

The trustee for shareholders that want to retain their Dexus-managed stake in Australia Pacific Airports Corporation can't be separately represented from the selling group, a judge has ruled in a case that pits APAC's investors against each other.

Real estate asset manager Dexus wants information that the Asia Pacific Airport Corporation gave to several consultants in a court battle over allegations it breached a shareholder deed in selling a stake in the airport operator. 

The directors of payday lenders Cigno and BSF have filed for special leave to appeal a decision that found them liable for unlicensed credit activity, saying the case raises fundamental questions about the scope of accessorial liability.

Payday lenders BSF Solutions and Cigno have lost an appeal in action by ASIC alleging they engaged in unlicensed credit activity and charged prohibited fees, in the case's second run up to the Full Federal Court.