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Funder gets $30M in landmark class action creating common fund
Class Actions 2018-05-30 11:56 am By Christine Caulfield

The litigation funder behind the Federal Court’s precedential ruling that established the first common fund order in an Australian class action has secured a $30.75 […]

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Westpac class action funder wants $77M ‘windfall’, bank says
Class Actions 2018-05-29 9:49 pm By Miklos Bolza

If Shine Lawyer’s upper damage estimate of $259 million is correct, the funder backing the Westpac life insurance class action would be entitled to a […]

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Judge slams class action settlement as “worst” he’s ever seen
Class Actions 2018-05-25 4:06 pm By Miklos Bolza

A Federal Court judge on Friday reluctantly approved a $12 million settlement in the long-running class action against Bank of Queensland, saying it left almost […]

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AMP appoints new GC to replace ousted Brian Salter
Financial Services 2018-05-24 10:35 pm By Christine Caulfield

AMP’s group company secretary David Cullen has been appointed top in-house lawyer, replacing Brian Salter, who was sacked for his role in the fees-for-no-service scandal. […]

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Fox Symes pays up over misleading ’15 second approval’ ad
Competition & Consumer Protection 2018-05-24 10:27 pm By Christine Caulfield

Debt management firm Fox Symes will pay $37,800 in penalties for misleading advertising, including its promise that customers could secure lending approval in 15 seconds. […]

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Westpac’s conduct ‘unconscionable’, but no BBSW rate-rigging, judge says
Financial Services 2018-05-24 3:51 pm By Christine Caulfield

Westpac Banking Corp. engaged in unconscionable conduct when it traded in bank bills in an attempt to influence the benchmark Bank Bill Swap Rate on […]

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Judge denies bid to axe claim against lawyer in Deep Investments case
Securities 2018-05-23 11:00 pm By Cat Fredenburgh

A solicitor caught up in a lawsuit over alleged share trading losses has lost his bid to have misleading and deceptive conduct claims brought against […]

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Class actions over Willmott Forests scheme collapse wrap up
Class Actions 2018-05-23 5:17 pm By Christine Caulfield

Class actions brought by victims of the failed Willmott Forests managed investment scheme have come to a close, two years after a judge issued a […]

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ASIC’s Peter Kell says finance sector’s excuses have run out
Financial Services 2018-05-22 9:09 pm By Miklos Bolza

ASIC deputy chair Peter Kell has put financial services firm’s on notice that excusing poor behaviour as an industrywide problem won’t cut it anymore. “‘I […]

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Westpac admits checks on small loan guarantors ‘more form’ than substance
Financial Services 2018-05-22 8:28 pm By Miklos Bolza

Westpac faced another tortuous day at the Banking Royal Commission on Tuesday, with general manager of commercial banking Alastair Welsh under the spotlight for inconsistencies […]

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