The Australian Securities and Investments Commission has brought legal action against National Australia Bank over its scandal-ridden ‘Introducer’ loan referral program.
Six individuals interviewed by ASIC in relation to the collapse of sandalwood producer Quintis have sought leave to intervene in the regulator’s case against the company’s founder, Frank Wilson, after he sought discovery from ASIC of interview transcripts.
Two competing shareholder class actions against developer Lendlease have been locked in for a beauty parade before the judge who recently forced the consolidation of three class actions against engineering firm RCR Tomlinson.
The applicants in the Radio Rentals “Rent, Try $1 Buy” class action have flagged the potential for prejudice caused by the respondents’ late evidence, with concerns about their capacity to be ready by the looming trial date if ongoing settlement negotiations hit a dead-end.
National Australia Bank is taking Helen Rosamond’s executive services company Human Group to court in connection with a multimillion dollar fraud against the bank.
Coal company Glencore has taken further legal steps to block the Australian Taxation Office from accessing documents related to its offshore affairs, after its bid to shield documents exposed in the Panama Papers leak failed before the High Court.
Global pharmaceutical firm Pfizer is mulling an application to stay a lawsuit by Merck Sharp & Dohme seeking to invalidate a patent related to the blockbuster Prevnar 13 vaccine as it awaits the outcome of similar proceedings in the US.
A judge overseeing competing class actions against AMP over allegedly excessive superannuation fees has signed off on an agreement by two rival law firms to consolidate their cases, avoiding a potentially costly and drawn out beauty parade.
The Australian Broadcasting Corporation has lost a bid for the documents behind an Australian Federal Police warrant to search its headquarters, with a Federal Court judge criticising the media organisation for embarking on a “fishing expedition”.
The original solicitors who stepped down from leading a class action against Westpac unit BankSA amid abuse of process allegations will bring separate proceedings in the Federal Court seeking a bigger slice of the multi-million dollar settlement sum to cover their costs.