A judge overstepped in throwing out a class action against two National Australia Bank units over alleged MySuper mismanagement because of a carveout in the Victorian Supreme Court Act which bars class actions involving trust property, an appeals court has heard.
A retired financial planner has filed a lawsuit accusinf AMP of using “unfair tactics” to avoid coughing up close to a million dollars allegedly owed under a buyout option exercised in November 2019.
A judge has issued a stern warning to litigation funders seeking to take a “gamble” on pending court proceedings, ruling they could be held liable for costs if their intervention proves critical to the advancement of the case.
A Forum Finance director is unable to file a defence against Westpac’s $400 million fraud case because his former solicitor has refused to hand over case files to his new lawyers until he pays a “remarkable” $300,000 legal bill, a court has heard.
Investors have won a bid to freeze the assets of cryptocurrency exchange platform operator Blockchain Global after it allegedly stole $10.3 million from ninety-four traders.
Investment firm Keybridge Capital has brought action in court seeking to set aside a statutory demand for $165,000 issued by its former law firm and calling for an assessment of over $600,000 in legal bills.
A judge has questioned whether he should allow prosecutors to amend charges against ANZ and its treasurer in a criminal cartel case over a $2.5 billion share placement after the bank argued the charges were defective and should be quashed.
A ruling this week that rejected the first application for a group costs order in a class action because the applicants were better off with their existing no win, no fee arrangement was the right decision given the limits of the legislation, experts say.
The Commonwealth Bank will plead guilty to criminal charges following an ASIC investigation over misleading representations to customers who purchased add-on consumer credit insurance.
The former lead auditor of stockbroker Halifax Investment Services, whose 2018 collapse resulted in $200 million in investor losses, has had his registration cancelled following an application by the Australian Securities and Investments Commission.