Lynton Hogan

An appeals court has dismissed the corporate regulator’s “logically inconsistent” appeal against a landmark decision that found insurer Auto & General did not include an unfair term in its contracts.

ANZ has lost its appeal of a landmark decision finding it breached continuous disclosure rules by failing to disclose a $750 million bailout by underwriters during a $2.5 billion capital raising.

ANZ will appeal a ruling that it breached its continuous disclosure obligations when it failed to inform the ASX of a bailout by the underwriters of a 2015 institutional share placement.