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A funder that bankrolled a class action that was stayed against Dixon Advisory has argued it should receive $969,000 from a $16 million settlement reached in the competing proceedings that went ahead, saying its costs were spent to protect group members’ interests.
British bank HSBC has been stung with $33,000 in penalties for alleged violations of rules designed to increase transparency and competition in the banking sector.
Dentons continues to grow its ranks with the recruitment of banking and finance partner, Yechiel Belfer, from Baker McKenzie.
In a loss for the Australian Taxation Office, an appeals court has found that the Liberty Group’s use of corporate and trust ‘silos’ was not an unlawful tax avoidance scheme.
ANZ has agreed to pay $57.5 million in a settlement of a class action over retrospective interest charges on credit cards.
Westpac subsidiary BT Funds Management and Tal Life Insurance have foreshadowed applications to strike out the pleadings of a class action alleging superannuation customers were overcharged for insurance coverage.
King & Wood Mallesons has settled a lawsuit by defunct stockbroker Halifax Investment Services alleging the firm and former auditor Bentleys failed to advise that it had to hold client funds used to trade on its online platform on trust.
A third law firm has filed a class action against International Capital Markets, after failing to reach an agreement on joining forces with two other firms that have agreed to consolidate their competing class actions against the Sydney broker over risky contracts for difference.
Blue Sky’s founder and former managing director Mark Sowerby has won orders requiring a director of US hedge fund Glaucus to produce documents relating to claims the short-seller shared information with market participants before releasing a report which sent Blue Sky’s shares into a tailspin.
A former lead partner in cybersecurity has sued Ernst & Young for expelling him after he was accused of threatening employees and mistreating female staff, saying the firm "ambushed" him and subjected him to "excessive" punishment.