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Former ANZ CEO Shayne Elliott has dropped a lawsuit alleging the bank breached the terms of a contract governing his departure when it denied him $13.5 million in bonus payments.
A judge has ordered ANZ to pay $250 million in penalties in four cases by ASIC – $10 million more than the bank had agreed to pay – saying ANZ had "substantially deceived” the government by overstating bond trading volumes.
A judge has questioned whether an agreed penalty against ANZ for overstating bond trading volumes is sufficient, noting the misrepresentations were "very significant".
ANZ can't call its former group chief risk officer — now a strategic advisor for Clayton Utz — to give evidence as it defends a whistleblower case by former trader Etienne Alexiou.
ASIC has confirmed it is investigating at least one ratings house which said Keystone’s failed Shield Master Fund was of 'investment grade', as the corporate watchdog seeks to claw back $480 million in investor funds.
ANZ has agreed to pay $240 million in penalties to resolve four separate cases by the corporate regulator, including a record $80 million penalty for unconscionable conduct in its dealings with the federal government.
The Finance Sector Union has accused ANZ of being a “bank in crisis”, launching a case in the Fair Work Commission over its handling of mass job cuts.
In the third decision approving an unaltered group costs order at the resolution of a class action, a judge has OK'd an $85 million settlement by ANZ, representing a $21 million payday for Maurice Blackburn.
With three months until trial, a judge has knocked back a former ANZ trader’s bid to appeal a decision which barred him from amending his case for what would have been the thirteenth time.
ANZ has sued several insurers seeking coverage for two class action settlements totalling $117 million, plus defence costs, in cases stemming from the banking royal commission.