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Two Dixon Advisory insurers have lost a bid to limit the details of insurance policies handed over to a class action purported to worth $463 million, after a judge’s ruled the collapsed wealth manager should disclose its insurance for liability in the case.
Companies associated with the wife of disgraced senior barrister Norman O'Bryan can't get a new judge to hear their battle against a third-party costs summons that would make them jointly liable for a $21.5 million judgment for investors in a class action over Banksia Securities' collapse.
The former chief financial officer and chief risk officer of South Australian industry super fund Statewide Superannuation have been hit with criminal charges related to the procurement of services from financial services platform Cosight.
A judge has granted a law firm's bid for a group costs order in a shareholder class action against payments processing company EML, but has trimmed its proposed cut of any recovery after comparing it to the contingency fee rate the firm accepted in another class action.
Mastercard has lost a bid to patent a data processing system used to prevent fraud on payment card networks, with an IP delegate Australia ruling the invention “does not rise above an idea.”
ASIC has taken American Express Australia to court over two credit cards co-branded with department store David Jones which the regulator alleges customers mistakenly believed were loyalty cards.
Westpac has lost a bid to keep group members in the dark about the premiums paid for allegedly worthless consumer credit insurance, information the bank said could inflate expectations about settlements worth $126 million reached in three class actions.
A judge has set aside a tribunal's decision not to disqualify a SMSF auditor for breaching independence rules, finding the tribunal had failed to consider general deterrence.
Vanguard Investments has coughed up almost $40,000 for allegedly misleading investors about funds that purportedly did not invest in companies that sell or manufacture tobacco.
ASIC has lost a case accusing the Commonwealth Bank of Australia of hitting customers with $55 million in unauthorised fees, with a judge finding that nearly 1 million customers charged the fees should have known that even banks "sometimes make mistakes".