Settlement

EnergyAustralia has admitted that its ‘Go Neutral’ carbon offset product did not prevent or reverse the harms associated with the burning of fossil fuels. 

A judge has refused a bid for more money to distribute a $5 million settlement in a class action against Tyro and has barred the scheme administrator from resigning without the court's leave, after he threatened to quit.

EnergyAustralia has reached a settlement with advocacy group Parents for Climate in a suit accusing it of falsely promoting its carbon offset products as carbon neutral.

A court has approved a $64 million settlement in a consumer class action against the NAB units MLC Trustees and NULIS Nominees, with 69 per cent of the settlement sum to go to group members. 

The plaintiff in a flex commissions class action against ANZ has asked the court to approve a $85 million settlement, including a 24.5 per cent group costs order, citing the “considerable risk” involved in running the case.

A $59 million settlement has been reached in a long-running class action accusing five major banks of foreign exchange rate-rigging.

Shareholders are set to pocket 58 per cent of a $65 million settlement in a class action against Treasury Wine Estates if the deal is approved by a court at a hearing this month.

Two Suncorp units and insurer TAL Life have agreed to pay $34 million to settle a class action over allegedly worthless add-on insurance sold at car dealerships.

An investor class action against failed advisory firm Linchpin Capital has sought court approval of a $12.15 million settlement with insurer AIG, which will leave 176 group members to share in $7.2 million after deductions.

Court approval of a $50 million settlement in a class action against ANZ and superannuation trustee OnePath has been delayed, after 22,000 group members were excluded from an opt-out notice due to a problem with OnePath's computing process.