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The corporate regulator has appealed a Federal Court decision that rejected part of its case against HCF Life Insurance over a pre-existing condition term in its policies that was found to be misleading but not unfair.
HCF Life insurance has been hit with a $750,000 penalty for including a pre-existing condition term in a life insurance policy, which a judge found was likely to mislead.
A "time poor" judge's extensive copying and pasting of submissions and an offensive tweet by senator Pauline Hanson were at the centre of the week's biggest litigation wins.
ASIC has won its case against insurer HCF Life over a pre-existing condition term that was likely to mislead the public, but failed to convince the court that it was an unfair contract term.
Macquarie Bank has agreed to pay a $10 million fine in proceedings brought ASIC after the bank admitted that it failed to monitor third-party withdrawals, resulting in a financial adviser’s theft of $2.9 million.
The corporate regulator is appealing a judgment that tossed its landmark action against Austo & General Insurance, saying the judge erred in construing an unclear and disproportionate term in the insurer's house and contents policy.
A judge has dismissed the corporate regulator’s first-ever case over unfair insurance contracts terms, finding it was not unfair for an insurer to require customers to notify it if anything changed about their home or its contents.
Melbourne-based joint venture Shepparton Partners Collective has appealed a $1.2 million judgment which found it infringed software developer QAD's copyright by failing to pay a transfer fee to retain the licence after it acquired the iconic SPC Ardmona cannery in Victoria from Coca-Cola Amatil for $40 million.