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ASIC takes Equity Trustees to court over Keystone’s defunct Shield fund
Financial Services 2025-08-26 1:11 pm By Christine Caulfield

The corporate regulator has brought its first action targeting a superannuation trustee as part of a wide-ranging investigation to claw back $480 million pumped into Keystone’s failed Shield Master Fund.

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Privilege fight erupts in Greensill case over email repeating Ashurst advice
Insurance 2025-08-25 11:34 pm By Cindy Cameronne

Lender White Oak has argued it can shield an email that repeats legal advice from Ashurst that was accidentally disclosed to insurers Bond & Credit Company and Tokio Marine, which it has sued over the collapse of supply chain finance company Greensill. 

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Mastercard doc privileged despite ‘inadvertent’ disclosure during Baker McKenzie review
Competition & Consumer Protection 2025-08-22 11:46 pm By Cindy Cameronne

A judge has found that Mastercard can maintain legal professional privilege over a document that was inadvertently sent to the ACCC in 2020 after lawyers at Baker McKenzie had to review 100,000 documents in less than two months.

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IG Markets owes $5.5M to client who traded CFDs on ‘test’ market
Financial Services 2025-08-21 11:10 pm By Julia Kanapathippillai

Online trading platform IG Markets must pay over $5.5 million in damages to a customer, with a court finding a contract term that purportedly allowed it to reverse transactions made in error was unfair.

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Plus500 says class action must arbitrate claims over CFDs
Class Actions 2025-08-20 11:35 pm By Cindy Cameronne

Online trader Plus500 is seeking to stay a class action on behalf of investors who lost money trading in highly leveraged financial products, telling a court the applicant signed an agreement forcing the dispute into arbitration. 

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Macquarie’s car loan class action settlement wins court OK
Dion Fahey 2025-08-20 11:29 pm By Christine Caulfield

A judge has signed off on Macquarie Leasing’s settlement in one of three class actions against lenders over flexible commissions paid to car dealers.

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NAB to take $130M hit after discovering staff underpayments
Employment 2025-08-18 11:44 pm By Julia Kanapathippillai

The National Australian Bank says it will take a $130 million hit after issues with its payroll system led to staff being underpaid.

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ASIC to seek winding up orders against property developer ALAMMC
Financial Services 2025-08-18 11:40 pm By Julia Kanapathippillai

The corporate cop can revise its action against Gold Coast property developer ALAMMC to seek winding up orders after concerns have emerged about misuse of $70 million in investor funds.

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Court OKs $59M settlement in rate-rigging class action against banks
Class Actions 2025-08-15 11:58 pm By Sam Matthews

A judge has signed off on a $59 million settlement in a class action accusing five banks of foreign exchange rate-rigging, while bemoaning the failure of successive attorneys-general to advance reforms clarifying the court’s power to make class closure orders.

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Mastercard says privilege shouldn’t be lost after junior lawyer’s ‘genuine mistake’
Competition & Consumer Protection 2025-08-15 11:46 pm By Cindy Cameronne

Mastercard says legal professional privilege remained over a document after a junior lawyer “inadvertently” sent it to the ACCC in 2020 while the credit card giant was trying to dissuade the regulator from continuing an investigation into alleged anti-competitive conduct.

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