The Suncorp Group unit and directors at the centre of a class action over allegedly conflicted remuneration have slammed the case as “misconceived” and argue it was not validly commenced.
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.
The plaintiffs in an investor class action filed against Dick Smith’s insurers want a separate hearing from four other representative and company proceedings against the failed electronics retailer, arguing there would be only the “thinnest basis” for concurrent proceedings if their strike out application was successful.
The hearing for a class action against National Australia Bank over allegedly worthless credit card insurance will focus on whether the bank’s allegedly unconscionable behaviour in selling these policies was systemic or confined to individual cases.
A court has thrown out a breach of contract claim brought by two subsidiaries of property developer Minster Group against National Australia Bank, but found the bank must face a $1.2 million unconscionability claim over allegedly excessive fees.
National Australia Bank is setting aside a further $1.18 billion to compensate customers for dodgy adviser service fees, consumer credit insurance sales, and non-compliant advice.
A judge has given the thumbs up to AMP’s new program to identify and compensate victims of so-called insurance churning by its financial planning arm after inadequacies were revealed in the original scheme.
Wyeth has lost a bid to claim legal professional privilege over certain documents sought by Merck Sharp & Dohme as the two rivals head towards a hearing for the reopening of the Prevnar 13 patent case.
The judge overseeing the Ethicon pelvic mesh class action has flagged serious public policy concerns stemming from class identification problems, amid fears that “poorer” patients in the public health system would be less likely to be notified of their rights compared to those in the private system.
A former Ernst & Young principal jailed for at least nine years for his role in a $135 million tax fraud has lost a challenge to two NSW Supreme Court orders barring access to $150 million worth of assets.