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The High Court has denied a bid for special leave by the Commonwealth Bank and other lenders to challenge a ruling that found two Arrium directors did not mislead them about loan drawdown notices ahead of the steel company's $2.8 billion collapse.
EFTPOS provider Tyro has won a year-long injunction against an authorised representative that pushed competing payment system Lightspeed on its customers, in breach of a restraint of trade clause in their contract.
The Australian Securities and Investments Commission has lost its bid to temporarily restrain payday lenders Cigno and BSF Solutions from enforcing loan fees against 7,000 customers, with a judge finding an injunction could destroy their businesses.
The judge overseeing a class action against collapsed investment manager Blue Sky has said he would not be inclined to seek clarity from the Full Court on whether the court has the power to make a solicitors common fund order unless one of the defendants raised a challenge.
A judge has signed off on a $110 million settlement in a long-running shareholder class action against AMP over its fees-for-no-service conduct, including $26 million in costs for law firm Maurice Blackburn.
Wealth manager E&P Financial Group has agreed to a $16 million settlement in a class action by Dixon Advisory clients who allege they suffered financial loss when the firm and its directors encouraged the purchase of high risk securities.
A $29.95 million settlement resolving a superannuation class action against two Westpac units has won court approval. The judge overseeing the case has also indicated he will OK the litigation funder's commission but only some of its after-the-event insurance premium.
AMP has been taken to court by a former licenced financial advisor who alleges he was terminated without proper and sufficient cause and forced to sell his business for $6.1 million under the wealth manager's buyer of last resort program.
The receivers of Sydney fraudster Melissa Caddick's estate have reached an agreement with her husband on a small pool of remaining assets in dispute that will see half of her teenaged son's sneaker collection sold to repay defrauded investors.
ANZ is facing proceedings by a shareholder who wants the bank to turn over documents related to its risk management systems in response to concerns it is increasing loans to fossil fuel companies and failing to properly address climate change risks.