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A judge has slugged the Commonwealth Bank of Australia with a $7 million fine in proceedings brought by ASIC for excessive interest charged to thousands of overdraft customers, but noted the penalty amounted to profits from just six hours of operation for the Big Four bank.
A lengthy dispute over insurance in a settled class action against sandalwood producer Quintis has been resolved, with the Federal Court rejecting a challenge by two insurers to the rectification of policies that could provide a further $11.25 million in recoveries to group members.
A judge has allowed four Afghan witnesses who allegedly saw Ben Roberts-Smith kick a handcuffed Afghan citizen off a cliff to give evidence remotely when the Australian war veteran's defamation case against three newspapers heads to trial in June.
The prosecution in a criminal cartel case against several banks and high-ranking executives over a $2.5 billion ANZ share placement has fought back against accusations that its indictment is "fundamentally flawed" and should be quashed.
Courts have power to order oral discovery of potential witnesses ahead of trial, according to the judge overseeing two 7-Eleven class actions by franchisees, but the cases against the convenience store giant were not the occasion to exercise the power, he said.
The judge hearing an underpayments class action against hospitality company Merivale has found the workplace agreement that covered the group members was not validly approved.
A judgment in a heated carriage fight between three class actions against construction giant Boral provides some guidance to law firms about conduct that could potentially compromise their case for why they should be crowned the victor in a class action beauty parade.
The Australian Securities and Investments Commission has taken the Commonwealth Bank of Australia to court for slapping nearly 1 million customers with unauthorised monthly access fees totaling $55 million over a nine-year period.
The law firm running its class action on a no win no fee basis has been crowned the winner in a battle against two competing firms to lead a shareholder class action against construction giant Boral, in the first such judgment handed down in the wake of a High Court ruling on competing class actions.
A judge has ruled that a former ANZ trader who alleges he was fired after complaining about rate-rigging at the bank can amend his lawsuit after separate proceedings that accuse law firm HWL Ebsworth of withholding his client file are resolved, saying the HWL documents could contain a "golden nugget".