The Australian Prudential Regulation Authority has raised Medibank’s capital adequacy requirement by $250 million, following last year’s cyber attack against the private health insurer, which exposed the personal details of 10 million customers.
Commonwealth Bank of Australia has recruited Clayton Utz partner and executive chair Karen O’Flynn to replace the outgoing Carmel Mulhern as the bank’s group general counsel.
Nine has partially won its bid to include evidence about the reputation of Euro Pacific CEO Peter Schiff in an attempt to minimise the damages it will owe after abandoning its substantive defences in defamation proceedings by the bank boss.
Seven Network has appealed a ruling that revoked its 7NOW trade mark for non-use in a victory for convenience chain 7-Eleven as it seeks to expand its presence in Australia.
Casino operator Crown Resorts has agreed to backpay employees more than $1.2 million, after the company notified the Fair Work Ombudsman that it had underpaid workers at its Melbourne and Perth locations for almost six years.
Telstra and TPG have lost their challenge to the ACCC’s decision refusing authorisation for a $1.8 billion regional network sharing agreement, with the Australian Competition Tribunal finding the deal would increase Telstra’s dominance in the mobile phone market.
A judge has admonished a class action applicant over continuing delays in a four-year-old class action against NAB which he said “should not be allowed to languish any longer”.
The growing use of generative AI tools such as ChatGPT could shake up the landscape of intellectual property laws in Australia, and novel questions posed by the technology are likely to be answered in the courts before regulators step in, lawyers say.
National Australia Bank has been revealed as one of HWL Ebsworth’s clients whose information was compromised when the law firm was hacked by a Russian-linked group.
Consumer goods giants Proctor & Gamble and Reckitt Benckiser have been urged by a court not to bury their dispute over marketing of a dishwashing tablet product under a mountain of competing performance tests.