ASIC has won banning orders against a Paladin and MacroLend director, with a judge finding investors were enticed by his “entirely fanciful” $1.02 billion valuation of Paladin unit Kradle Software.
The applicant in a class action by former RAMS franchisees can’t intervene in proceedings by ASIC against the defunct Westpac mortgage unit, with a judge finding the outcome of the ASIC case will not affect the class action.
The High Court will hear an appeal by Sunshine Loans, which centres on a judge’s recusal in the corporate regulator’s case over unauthorised fees.
Former franchisees involved in a class action against RAMS are seeking to intervene in ASIC civil penalty proceedings against the defunct Westpac subsidiary.