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ACCC must hand over docs on Vodafone-TPG merger investigation
Competition & Consumer Protection 2019-07-04 4:50 pm By Miklos Bolza

The Federal Court has ordered the Australian Competition and Consumer Commission to hand over documents to Vodafone that were “directly relevant” to its decision to oppose the $15 billion Vodafone-TPG merger. In an order given Wednesday, Federal Court Justice John Middleton directed the ACCC to conduct a reasonable search and provide any relevant documents from…

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Samsung in hot water with ACCC over water resistant claims
Competition & Consumer Protection 2019-07-04 1:41 pm By Miklos Bolza

The Australian Competition & Consumer Commission has commenced legal action against Samsung Electronics for allegedly making false, misleading and deceptive representations when marketing the water resistant capabilities of its Galaxy smartphones.

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APRA had ‘unhinged hatred’ of IOOF exec, court told
Financial Services 2019-07-03 7:49 pm By Amelia Birnie

APRA has been accused of harbouring an “unhinged hatred” for former IOOF managing director Chris Kelaher by his counsel, who was objecting to internal APRA documents he claims were disparaging of the wealth management company and its executives.

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In latest AMP class actions, judge nudges parties away from beauty parade
Class Actions 2019-07-03 3:41 pm By Christine Caulfield

A judge overseeing competing consumer class actions against AMP over superannuation fees said he would be “reluctant” to hold a contest between the two cases, as the applicants in the rival proceedings tell the court they are in talks about possible consolidation.

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Ex-CBA exec facing criminal charges ordered to hand over docs in US lawsuit
White Collar 2019-07-02 9:03 pm By Amelia Birnie

A former Commonwealth Bank executive facing criminal commercial bribery charges has been ordered to hand over a number of documents in a US lawsuit brought by IT company Computer Sciences Corporation, but has avoided orders compelling him to take the witness stand.

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IOOF unit’s case ‘utterly unsupportable’, Sparke Helmore tells court
Trials 2019-07-02 8:40 pm By Miklos Bolza

Sparke Helmore has refuted allegations by IOOF subsidiary Australian Executor Trustees (SA) that it failed to provide proper legal advice to the trustee on a 2012 pine plantation sale that left 4,500 investors without millions of dollars worth of assets.

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‘Neglect, inexperience, incompetence’: IOOF unit faces $82M trial over plantation sale
Trials 2019-07-01 7:23 pm By Miklos Bolza

IOOF subsidiary Australian Executor Trustees (SA) is facing an $82 million claim for compensation by investors angered by the way the trustee handled the sale of a 42,000 hectare timber plantation run by collapsed forestry giant Gunns Group.

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Equititrust settlement with KPMG approved after no objections to funder taking all
Restructuring & Insolvency 2019-06-28 9:04 pm By Amelia Birnie

A court has approved a settlement between the liquidators of failed fund manager Equititrust and auditor KPMG, after not a single objection was raised by unitholders or creditors who won’t receive anything after the entire amount is paid to the funder.

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Commonwealth Bank agrees to enforceable undertaking after privacy breaches
Privacy & Cybersecurity 2019-06-27 9:49 pm By Christine Caulfield

The Commonwealth Bank must overhaul its privacy practices as part of a court-enforceable undertaking with the Australian Information Commissioner following two data breaches.

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Optus hit with fresh lawsuit over NBN rollout marketing
Competition & Consumer Protection 2019-06-27 8:06 pm By Amelia Birnie

The consumer watchdog has issued fresh proceedings against Optus over its National Broadband Network marketing, alleging the telecommunications giant sent a misleading email to consumers just two days after it copped a $1.5 million penalty for similar conduct.

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