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A class action that sought to quash a settlement reached on behalf of child abuse victims who attended NSW’s Fairbridge Farm School has been discontinued, with a court hearing the case was "uneconomic".
Construction PRO
The unitholders of defunct developer 1A Eden are facing a suit by a liquidator to recover a $2.5 million judgment in favour of a North Sydney apartment building's owners corporation.
Defunct forex broker Union Standard and its former agents have been hit with a combined $300.2 million penalty for “egregious” contraventions, including deliberately pushing risky derivative contracts onto inexperienced investors.
Construction PRO
The owners corporation of a 36-unit apartment block in North Sydney that has been locked in a long-running fight with the developers over defects has won $2.5 million after the parties settled on the eve of the trial.
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.
The corporate regulator says defunct forex broker Union Standard and its agents should be hit with $300 million in penalties for their tactics in pressuring customers to trade in risky financial products.
A judge has found that representatives for forex broker Union Standard used unfair tactics to pressure customers to invest in risky financial products and derived most of their revenue from customer losses, said to total $83 million.
The authorised representative of forex broker Union Standard can't exclude parts of an opinion by an ASIC-appointed expert in a case alleging it traded in margin products with Chinese clients despite knowing it was illegal under Chinese law.
A judge has granted OTC trader EuropeFX more time to file its defence to an 80-page statement of claim and over 2,000 pages of particulars filed by ASIC in its case accusing the company of knowingly exposing its Chinese customers to criminal charges.