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A judge has removed the funder and law firm leading the Banksia Securities class action from their roles supervising a proposed settlement distribution scheme after the funder was accused of intimidation, a lack of experience and charging excessive costs.
The barrister leading an appeal seeking to revive Quinn Emanuel's fees for no service class action against AMP has criticised the approach taken in the landmark GetSwift ruling on competing class actions, saying it placed the court in the role of auctioneer and actually encouraged duplicative proceedings.
Westpac has recently agreed to pay a combined $23.25 million to settle two class actions against it, cutting the number of class actions the bank is facing in half.
The Australian Securities and Investments Commission has brought legal action against National Australia Bank over its scandal-ridden 'Introducer' loan referral program.
Westpac will pay $13.25 million to settle a class action over alleged losses caused by subsidiary BankSA’s investments in a Ponzi scheme run by convicted fraudster Michael Samra.
National Australia Bank is taking Helen Rosamond’s executive services company Human Group to court in connection with a multimillion dollar fraud against the bank.
A judge overseeing competing class actions against AMP over allegedly excessive superannuation fees has signed off on an agreement by two rival law firms to consolidate their cases, avoiding a potentially costly and drawn out beauty parade.
AMP has added two law firms to separately represent its subidiaries in one of two class actions alleging it charged its superannuation members excessive fees.
A senior partner at a Sydney-based law firm has denied he made a "deliberate decision" to withhold advice from a former client suing for alleged breach of duties and conflict of interest over a rejected $4.45 million settlement in an employment dispute with Westpac.
The Australian Securities and Investigations is making up for lost time, ramping up its investigation and litigation efforts following a blistering critique by the banking royal commission of its soft enforcement approach.