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Banksia senior barrister belatedly struck from roll in South Australia
Business of Law 2023-08-31 11:18 pm By Christine Caulfield

Disgraced Banksia class action barrister Norman O’Bryan has been struck from the roll of legal practitioners in South Australia for his part in what has been described as the darkest chapter in Victoria’s legal history.

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ASIC seeks ‘re-run’ of trial against James Mawhinney, court told
Financial Services 2023-08-31 3:23 pm By Cindy Cameronne

ASIC wants to re-run its case against investment group M101 Nominees and founder James Mawhinney after admitting it made errors at its initial trial, arguing for new fines and disqualification orders on remittal by the Full Court, a judge has heard.

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NAB class action seeks to bring ‘very serious’ new fraud allegations
Class Actions 2023-08-25 2:25 pm By Cindy Cameronne

NAB will fight a bid by a $78 million class action over the collapse of Walton Construction to add serious fraud allegations in the four-year-old case, which a judge said has been “mired in a procedural mess”.

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$4.9B ANZ, Suncorp merger heads to Competition Tribunal
Competition & Consumer Protection 2023-08-25 10:11 pm By Cat Fredenburgh

ANZ has lodged an application asking the Australian Competition Tribunal to reverse the competition regulator’s rejection of its $4.9 billion tie-up with Queensland-based Suncorp.

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Deloitte may ask court to keep lid on class action settlement
Class Actions 2023-08-24 2:35 pm By Sam Matthews

Deloitte may seek confidentiality orders over the amount it agreed to pay to settle a shareholder class action over its audits of collapsed construction group Hastie.

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CBA to backpay staff $3M to settle rest break lawsuit
Financial Services 2023-08-23 10:01 pm By Cat Fredenburgh

The Commonwealth Bank of Australia has agreed to backpay thousands of branch staff $3 million to settle a lawsuit alleging it failed to provide employees with paid rest breaks for at least six years.

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Wealth guru Dominique Grubisa can’t get more detail about ACCC’s case
Competition & Consumer Protection 2023-08-22 1:42 pm By Cindy Cameronne

Dominique Grubisa has come up short in her bid to have the Australian Competition and Consumer Commission file formal pleadings in its case alleging she misled students enrolled in her real estate investing and wealth management courses.

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AMP to pay $110M to settle shareholder class action
Class Actions 2023-08-21 11:30 am By Cindy Cameronne

A shareholder class action that was filed in the wake of the banking royal commission over AMP’s fees-for-no-service practices has settled for $110 million. 

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ASIC loses appeal in CBA conflicted remuneration case
Financial Services 2023-08-17 10:32 am By Cindy Cameronne

ASIC has lost its challenge to findings that a revenue sharing arrangement between the Commonwealth Bank of Australia and former subsidiary Colonial First State Investments did not breach conflicted remuneration provisions of the Corporations Act.

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Crypto lender sentenced over false credit licence claim
Cryptocurrency 2023-08-17 10:59 pm By Sam Matthews

Cryptocurrency lender Helio Lending Pty has been slapped with a non-conviction bond for falsely claiming that it held an Australian credit license.

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