A judge has raised concerns about whether an agreed-to $20 million penalty against Westpac’s defunct home loan subsidiary RAMS is enough to deter other lenders from breaking credit rules.
Westpac has lost a dispute with a part-time employee who asked to work from home to care for two young children and was told by a manager that “working from home is no substitution for childcare”.
The corporate regulator has banned a MWL Financial adviser for eight years for recommending clients park the bulk of their superannuation into Keystone’s high-risk Shield Master Fund, which has since collapsed.
A judge has refused to join the ATO as an interested party to a case over the receivership of investment platform Brite Advisors, after the receivers worried they could be on the hook for $75.4 million in capital gains tax.
A court has tossed the corporate regulator’s case against Freedom Insurance’s former boss and another executive, finding that a sales incentives scheme did not breach conflicted remuneration laws.
A group of investors have won a dispute against a Newcastle-based company over a foreclosure on a mortgage in relation to a Gold Coast which did not proceed.
Upping the ante in sprawling litigation over the failure of Greensill Capital, the global finance firm’s bank has won an anti-anti-suit injunction against Marsh that bars the insurer from prosecuting its UK case.
A former authorised representative of Resilium Insurance Broking has failed to persuade an appeals court that the intermediary network breached a contract by providing its client data to a new representative.
Thompson Geer has nabbed a partner and a special counsel from Baker McKenzie to grow its Melbourne-based banking and finance team.
Commonwealth Bank’s New Zealand unit, ASB Bank, has agreed to pay $119.35 million to settle a class action alleging it failed to repay fees and interest wrongly charged to 150,000 customers who took out home or personal loans.