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IOOF unit wins stay of $76M judgment as it mulls appeal of case against Sparke Helmore
Restructuring & Insolvency October 22, 2019 11:00 pm By Cat Fredenburgh

A judge has briefly stayed his $76.6 million judgment against IOOF subsidiary Australian Executor Trustees over the sale of a timber plantation by the collapsed […]

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Judge tosses Babcock & Brown cases, finds ‘serious problems’ with market-based causation
Securities October 21, 2019 8:47 pm By Miklos Bolza

A judge has dismissed three proceedings by shareholders against the liquidator of failed global financial services firm Babcock & Brown, in a finding that highlights […]

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Cash Converters to pay $42.5M to settle personal loans class action
Class Actions October 21, 2019 2:31 pm By Cat Fredenburgh

Cash Converters has agreed to pay $42.5 million to settle a class action brought on behalf of consumers that took out personal loans, after reaching […]

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Judge approves BankSA class action settlement, awards law firm for prep work
Class Actions October 18, 2019 11:58 pm By Christine Caulfield

A judge has signed off on a settlement of a long-running class action against Westpac unit BankSA, and has ruled the law firm that brought […]

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CBA’s Colonial First State faces another superannuation class action
Class Actions October 18, 2019 10:38 pm By Cat Fredenburgh

Commonwealth Bank’s wealth management unit Colonial First State has been hit with a second class action in as many days, this one alleging it charged […]

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CBA unit faces MySuper class action over delayed $3.2B funds transfer
Class Actions October 17, 2019 1:03 pm By Amelia Birnie

Commonwealth Bank subsidiary Colonial First State and former director Linda Elkins face a class action alleging the wealth management group breached its superannuation trustee duties […]

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APRA won’t appeal loss in IOOF case
Financial Services October 17, 2019 5:08 pm By Cat Fredenburgh

The Australian Prudential Regulation Authority will not challenge a Federal Court ruling that dismissed its case against fund manager IOOF as “unpersuasive”, “fundamentally inadequate” and […]

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ASIC calls out insurers, super funds for selling ‘junk’ TPD insurance
Insurance October 17, 2019 5:09 pm By Amelia Birnie

AMP, Asteron and Westpac have been singled out by ASIC for having higher than expected decline rates for total and permanent disability life insurance claims, […]

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NAB case against Human Group could prejudice Helen Rosamond, judge says
White Collar October 16, 2019 3:29 pm By Cat Fredenburgh

A judge has hit pause on National Australia Bank’s case against Helen Rosamond’s executive services company Human Group over an alleged $42.4 million fraud against […]

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ANZ says ASIC overreaching in case over ‘periodical payment’ fees
Financial Services October 15, 2019 9:17 pm By Miklos Bolza

ANZ has rejected allegations by the financial regulator that $35 million in fees charged to customers for periodical payments between accounts was unlawful, saying the […]

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