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The group providing funding to claimants in a class action against the federal government over its 2011 ban on live cattle exports to Indonesia does not have to comply with new rules requiring litigation funders to obtain an AFSL and operate as a managed investment scheme in order to sign up new group members.
The Federal Government will not challenge a ruling in a class action brought on behalf of live exporters which found a total ban on live cattle exports to Indonesia in 2011 was "capricious and unreasonable".
The lead applicant in a class action against the Federal Government over its total ban on live cattle exports to Indonesia in 2011 has been awarded $2.9 million, potentially exposing the government to hundreds of millions of dollars in damages.
A judge has ruled in favour of live exporters in a class action against the Federal Government, finding a total ban on live cattle exports to Indonesia in 2011 was "capricious and unreasonable".
Cigno has appealed a ruling shooting down its challenge to the first action brought by ASIC under its powers to prohibit 'predatory' financial products, which targeted the payday lender's model of short-term credit lending.
Payday lender Cigno has lost a challenge to the corporate regulator's first action under powers to prohibit 'predatory' financial products that targeted its model of short-term credit lending.
ASIC has criticised a Federal Court judge for his 'thought experiments' around prospective home loan applicants feasting on Wagyu beef and shiraz, as the regulator challenges the judge's dismissal of its responsible lending case against Westpac.
The Federal Court has imposed a penalty of almost $5.2 million on AMP Financial Planning after finding it was "reckless" in its “lamentable failure” to properly respond to a now banned adviser who was churning life insurance for higher commissions.
Unique International College has been slapped with a $4.165 million penalty after a court found the defunct vocational trainer engaged in unconscionable conduct in enrolling students in courses costing up to $22,000.
Westpac has offered an appeals court two more reasons to affirm its victory in a closely watched responsible lending case brought by the Australian Securities and Investments Commission over almost 262,000 home loans.