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A barrister for a class action against Radio Rentals has told the Federal Court the company's "strange" lease contracts may have been worded solely to avoid its obligations under the Uniform Consumer Credit Code.
A judge has given the green light to a settlement of seven class actions against ratings agency S&P Global over toxic financial products, saying despite an "extraordinarily large" litigation funding fee the deal was a "significant vindication" of group member claims.
The lead applicant in an investor class action against Fitch Ratings will get its hands on internal reports detailing why the agency assigned a Triple A rating to Sigma Finance Corporation ahead of its 2008 collapse, and whether it could have predicted the fall of the $27 billion investment fund.
The corporate watchdog can't get its hands on documents detailing Westpac's disciplinary measures against rogue traders or communications between the employees ahead of a penalty hearing in a case that found the bank attempted to influence the Bank Bill Swap Rate.
The Australian Securities and Investments Commission will get a $70.1 million boost to fight corporate wrongdoing as part of a funding package that includes a plan to embed ASIC staff in the big four banks and AMP.
Settlements totaling $39 million have been reached in two class actions against the former trustee of failed investment groups LKM Capital and GR Finance.
Former Slater & Gordon auditor Pitcher Partners has been hit with a class action alleging it signed off on an overly rosy 2015 year-end financial report that failed to disclose risks and impairments the firm faced from its recent acquisition of UK firm Quindell.
Lawyers for two competing class actions against the Commonwealth Bank of Australia over breaches of anti-money laundering laws say the cases can happily co-exist, but whether the court will agree may well depend on the outcome of a closely-watched appeal in a separate battle over multiple proceedings.
Macquarie Bank is facing a fourth lawsuit by a group of former financial advisers alleging it breached the Fair Work Act by denying them regular wages.
A settlement has been reached in two class actions brought on behalf of holders of debentures who allege they suffered losses due to Australian Executor Trustees' mismanagement of debenture issuer Provident Capital.