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Westpac has secured confidentiality orders blocking the release of details of an adverse action case by its former head of strategy, after arguing that publicity would hamper settlement talks and force it to defend itself in the media.
A director of two Paladin Group units is entitled to rely on the privilege against self-exposure to penalty in defending a case brought by the Australian Securities and Investments Commission, a court has heard.
Ord Minnett must pay years of wages and other entitlements to a wealth adviser who was only remunerated by commission payments, after a judge found he was covered by the finance industry award, in a decision that could reverberate throughout the industry.
A judge has scorned a bid by the directors of John Bridgeman and JB Markets to represent the companies in a case brought by investment fund Benjamin Hornigold, suggesting the companies seek pro bono or community legal assistance.
Westpac subsidiary RAMS has flagged a cross-claim against disgruntled franchisees who say their agreements were terminated without proper cause, citing possible breaches of the National Credit Act.
Payday lenders Cigno and BSF Solutions have appealed a decision that found they provided credit without a licence, and rejected the claim that their loan model is analogous to buy now, pay later arrangements that don’t require a licence.
The lead applicant in a class action against former Commonwealth Bank of Australia subsidiary Count Financial has settled individual claims in the case, which alleges the financial advisory firm charged fees for no service.
A law firm that has gone after major banks and the federal government over their climate exposure has trained its sight on the National Australia Bank.
A judge has warned two law firms competing to run a class action against IC Markets over risky contracts-for-difference that it will be held against them if they take a “holding position” on their funding proposals and attempt to negotiate their bids down later.
Mayfair 101’s James Mawhinney has defeated bankruptcy action by the owner of marketing firm 360 Degree Media, who claimed the founder of the beleaguered wealth management business owed him $3.5 million.