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Westpac slams ‘disorderly’ shareholder class action over AUSTRAC disclosures
Class Actions 2022-09-16 2:42 pm By Sam Matthews

Westpac has criticized the lead applicant in a class action filed in the wake of AUSTRAC proceedings for the “disorderly” conduct of the lagging proceedings, with discovery yet to be finalized as the case nears its third anniversary.

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Mayfair’s James Mawhinney wins reversal of 20-year ban
Appeals 2022-09-15 11:08 am By Sam Matthews

The founder of beleaguered investment group Mayfair 101, James Mawhinney, has won an appeal against a decision that saw him banned from soliciting funds or promoting any financial product for 20 years.

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‘Most regrettable’: Mawhinney’s incompetence claims against lawyers don’t come close, judges say
Financial Services 2022-09-15 1:52 pm By Sam Matthews

Despite scoring a win Thursday in his appeals court battle with ASIC, Mayfair 101’s James Mawhinney was criticized for his “spurious” claims against solicitors and counsel acting for him.

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Class action probe targets Aussie Home Loans over ‘worthless’ policies
Class Actions 2022-09-14 2:47 pm By Sam Matthews

Aussie Home Loans is facing a class action investigation for allegedly selling “essentially worthless” policies to homeowners.

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Banksia class action silk’s wife bound by damning judgment, court told
Class Actions 2022-09-09 11:51 pm By Christine Caulfield

Companies associated with the wife of disgraced senior barrister Norman O’Bryan are stuck with the findings of last year’s excoriating judgment against the Banksia class action legal team despite their status as third parties, a court has heard.

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Cartel case dropped against director of money transfer biz
Competition & Consumer Protection 2022-09-08 11:05 am By Sam Matthews

The director of a money transfer business accused of fixing foreign exchange rates has been let off the hook after four other people associated with the business entered guilty pleas to six charges of criminal cartel conduct. 

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$1M security for costs ordered in Jabiru Satellite case against major banks
Financial Services 2022-09-08 1:06 pm By Cindy Cameronne

A judge has ordered Australian telecommunications companies Jabiru Satellite and NewSat to pay $1 million in security for costs in a lawsuit against eight major banks alleging they wrongfully withdrew financial support for Australia’s first independently owned satellite.

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‘Magnet for litigation’: Dixon Advisory insurers fight to shield policy info in class action
Insurance 2022-09-07 11:29 pm By Cindy Cameronne

Two insurers for Dixon Advisory have argued they should not have to disclose policies that could respond to mammoth claims in a class action against the collapsed financial services firm estimated to be worth $278 million and $463 million. 

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Halifax sues King & Wood Mallesons for negligence
Professional Negligence 2022-09-06 11:22 pm By Cindy Cameronne

Defunct stockbroker Halifax Investment Services has sued law firm King & Wood Mallesons and its former auditor Bentleys for allegedly failing to advise that it had to hold client funds used to trade on its online platforms on trust.

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MinterEllison snags leading superannuation lawyer from Herbert Smith Freehills
Financial Services 2022-09-05 11:20 pm By Christine Caulfield

MinterEllison has recruited financial services and superannuation law expert Ruth Stringer to lead the national super practice she established some 20 years ago.

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