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Judge vacates Westpac insider trading trial despite ‘misgivings’
Financial Services 2021-07-26 2:46 pm By Miklos Bolza

A judge has vacated next year’s trial in ASIC’s insider trading case against Westpac despite “misgivings”, and has made orders regarding confidential evidence after the […]

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CBA class action applicant can’t share in group members’ privilege, court finds
Class Actions 2021-07-27 6:10 pm By Miklos Bolza

The lead applicant in a class action against CBA does not have the right to view fund management documents relevant to the case despite representing […]

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Linchpin liquidators get final chance to defend class action
Class Actions 2021-07-23 2:14 pm By Miklos Bolza

A judge has given the liquidators of Linchpin Capital a final chance to defend a shareholder class action before judgment is made against the collapsed […]

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Greensill Capital likely insolvent one week before appointing administrators, report says
Restructuring & Insolvency 2021-07-22 11:29 pm By Christine Caulfield

Greensill Capital likely became insolvent on March 2, seven days before the Queensland-based financial services firm appointed administrators, the company’s liquidators have revealed. In a […]

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Judge lashes Forum Finance director’s failure to comply with court orders
Financial Services 2021-07-22 9:57 pm By Miklos Bolza

A judge has issued an ultimatum to Forum Finance director Bill Papas for his “entirely unsatisfactory” conduct in failing to provide details of personal assets […]

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Westpac’s profits relevant, judge says in imposing $3M fees-for-no-service penalty
Financial Services 2021-07-22 9:35 pm By Christine Caulfield

Westpac has been ordered to pay $3 million after two subsidiaries admitted misleading hundreds of superannuation customers about the financial adviser fees they were charged, […]

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Westpac confirmed as largest Forum creditor, as administrators near sale of unit
Restructuring & Insolvency 2021-07-21 11:17 pm By Christine Caulfield

Administrators have lined up a buyer for a Forum Group entity, as a first creditors meeting confirms Westpac has the largest claim to any recoveries […]

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Self-proclaimed financial guru Roger Munro pleads guilty to defrauding investors
Financial Services 2021-07-20 9:21 pm By Bianca Hrovat

Failed financial advisor Dr Roger Munro faces up to 12 years imprisonment after he pleaded guilty to three counts of fraud at the Brisbane District […]

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ASIC appeals ruling in case against payday lenders Cigno, BHF Solutions
Financial Services 2021-07-20 9:09 pm By Cindy Cameronne

ASIC is challenging the dismissal of its enforcement action against payday lenders Cigno and BHF Solutions in a decision that found the companies did not […]

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Full Court may decide critical question in superannuation class actions
Class Actions 2021-07-20 4:45 pm By Miklos Bolza

The lead applicant in a Maurice Blackburn-led class action against superannuation provider Colonial First State wants the Full Court to determine whether group members still […]

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