A judge has dismissed court proceedings brought by the corporate regulator against superannuation trustee Diversa over its alleged failure to oversee a now-banned financial adviser, ruling that the knowledge of downstream entities could not be attributed to Diversa.
A second law firm is likely to throw its hat in the ring to run a competing class action against Qantas over flight cancellations in the COVID-19 pandemic, but a judge has made orders trying to side-step a carriage fight, criticising them as “wasteful and expensive”.
A judge has ordered ANZ to pay a $15 million agreed penalty in a case over more than $10 million in cash advance fees charged to the credit card accounts of hundreds of thousands of customers.
A judge has approved a common fund order awarding $6.88 million to the funder behind a class action against Fonterra that settled for $25 million, opting not to wait for a much-anticipated appeals court ruling on the power to make CFOs at settlement.
The High Court has granted defunct online educator Captain Cook College special leave to appeal a finding that it engaged in systemic unconscionable conduct by enrolling thousands of unsuitable students, who accrued $60 million in debt but never finished their courses.
A judge has approved a $50 million settlement in a class action against the Commonwealth Bank over allegedly worthless consumer credit insurance after his concerns about a $2.5 million deduction for Deloitte were allayed.
The consumer regulator has asked a judge to impose penalties of almost $10 million against Honda Australia for misleading the customers of two former authorised dealerships, a penalty up to 10 times what the car maker says it should pay.
A judge asked to approve a $50 million settlement in a consumer credit insurance class action against the Commonwealth Bank has questioned a $2.5 million deduction for professional services firm Deloitte.
ANZ’s $47 million settlement of a class action over its consumer credit insurance has been given the nod by a judge, who has also approved recovery of the cost of after-the-event insurance held by the law firm running the case.
The Australian Securities and Investments Commission has told a trial judge that superannuation trustee Diversa can’t hide behind outsourcing arrangements to explain its alleged failures to oversee a now-banned financial adviser accused of luring vulnerable customers into signing up to Diversa accounts.