Beleaguered investment group Mayfair 101 will have to pay a $30 million penalty after a judge found a $12 million penalty proposed by ASIC was “insufficient”.
Ford has challenged its loss in a class action over its allegedly defective PowerShift transmissions, arguing group members who have had their cars repaired are not entitled to damages.
The lead applicant in a superannuation class action against two IOOF units has successfully appealed a decision that barred the case from proceeding under a carveout in Victoria’s Supreme Court Act forbidding class actions involving trust property.
The Morrison government has denied that it has any obligation to disclose climate change risks to investors of its sovereign bonds as it defends a world first class action alleging global warming is a material risk to the bond market.
Retail giant Cotton On has hit back at allegations of copyright infringement, highlighting the prevalence of copying in the fashion industry.
Payday lender Nimble has succeeded in blocking its largest shareholder from accessing company documents relating to an impending debt refinance, with a judge finding the company’s financial woes were due to COVID-19 and not improper conduct by management.
Law firm Maddocks has been ordered to pay more than $1.4 million in indemnity costs for “throwing good money after bad” in failing to consider a settlement offer in a negligence lawsuit over a client’s botched deal with Woolworths.
A judge has criticised the Australian Securities and Investments Commission for treating timetabling orders in its insider trading case against Westpac over a $16 billion interest rate swap as though they were “traffic lights in Naples”.
Forum Group’s liquidators are seeking to wind up an entity owned by founder Bill Papas that received over $2.6 in “loans” from the alleged fraudster, as they work to recoup almost $400 million allegedly defrauded from three banks.
Singapore telecommunications giant SingTel cannot claim over $894 million in tax deductible “transfer pricing benefits” for interest paid by a cross-border subsidiary on a loan for the $14.2 billion acquisition of Optus, the Federal Court has ruled.