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Insurance giant Suncorp faces a class action investigation on behalf of millions of home and car insurance customers who were allegedly misled about their premiums and charged a so-called loyalty tax.
A 'junk' insurance class action against Suncorp unit AAI wants an initial trial to deal with the claim -- absent a sample group member -- that car dealers made purchasing a policy necessary for a loan.
A judge has ordered soft class closure in a class action against Suncorp unit AAI over allegedly worthless insurance, saying that knowing how many of the 200,000 group members are likely to participate would assist in resolving the case.
The ACCC’s rejection of a $4.9 billion merger between ANZ and Suncorp was hardly surprising given the concentrated nature of the home loans market, but the competition regulator faced an uphill battle in having the decision upheld, an expert says.
The ACCC’s decision to block a $4.9 billion merger between ANZ and Suncorp has been set aside, with a tribunal finding the transaction will not substantially lessen competition in the home loans market or for agribusiness and SME clients in Queensland.
A battle with the competition regulator over the proposed ANZ, Suncorp tie-up has begun, with the first clash involving a group of rival lenders that want their submissions to the ACCC kept under lock and key.
ANZ has lodged an application asking the Australian Competition Tribunal to reverse the competition regulator's rejection of its $4.9 billion tie-up with Queensland-based Suncorp.
The ACCC has rejected ANZ's $4.9 billion acquisition of Queensland-based Suncorp, setting up a likely challenge before the Australian Competition Tribunal.
The competition regulator has delayed its final decision on whether to approve ANZ's $4.9 billion acquisition of Queensland-based Suncorp, after expressing worries the tie-up could stifle the growth of smaller banks.