Bond & Credit Company has lost its bid to bring a new claim in defence to $6 billion proceedings over the collapse of Greensill that alleged the financial services company failed to disclose its “moral hazard” behaviour of being dishonest with insurers.
The Full Court is set to weigh in on whether judges who make adverse findings on credibility during the liability phase of a hearing should recuse themselves from determining penalty, an issue which a judge has said may require a new court protocol.
A judge has ordered Mercer Superannuation to pay $11.3 million for “reckless, if not deliberate” representations about so-called sustainable investment options that included investment in oil and gas companies, including BHP and Origin Energy.
A judge has approved a $8.25 million settlement in a class action against PricewaterhouseCoopers brought by Axsesstoday bondholders over an allegedly misleading bond prospectus.
In a first for a Big Four firm, PwC has made good on its promise to appoint an independent chair to its board and has tasked law firm Webb Henderson and former top judge with tracking its progress on other commitments made in the wake of its tax leaks scandal.
Sydney-based wealth guru Dominique Grubisa has been banned from managing corporations for 18 months after an ASIC investigation found two companies she managed owed more than $300,000 to creditors.
The Queensland Court of Appeal has knocked back a challenge by jailed investment guru Dr Roger Munro to his conviction on three counts of fraud, which landed him a four-and-a-half month prison sentence.
Two units of the Commonwealth Bank of Australia on Monday pleaded guilty and were hit with $48,000 in penalties for denying staff $1.67 million in long service leave entitlements.
A law firm has reached a settlement with the lender of a property development in North Melbourne, paying $1 million to resolve claims it was negligent in preparing a loan agreement.
Hong Kong-based NGS Crypto Group and its director have lost their bid to undo receivership and freezing orders made amid concerns about dissipation of assets as ASIC investigates whether hundreds of Australians who sank $21.1 million into the crypto firm were misled about the safety of their investments.