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Zip Co will have to rebrand after losing a challenge to non-bank lender Firstmac’s ‘Zip’ trade mark, with the High Court finding the honest concurrent use is to be judged by the standards of “ordinary, decent people”, not a subjective “Robin Hood” test.
The founder of fintech Humm Group has agreed to step down from the board as he brings a High Court challenge over a Takeovers Panel ruling that found unacceptable circumstances in relation to a $385 million takeover offer by Credit Corp.
A judge has approved amendments to a shareholder class action against iSignthis and auditor Grant Thornton, over the opposition of the fintech firm, which argued the changes would amount to an abuse of process.
Former Humm Group chair Andrew Abercrombie wants the High Court to overturn a Takeovers Panel ruling that found he misled investors about a takeover bid by Credit Corp.
A judge has approved a $37.35 million settlement in a class action alleging fintech EML Payments failed to promptly disclose anti-money laundering and counter terrorism compliance concerns.
The Takeovers Panel has found that statements made by fintech Humm and its former chairman about a takeover bid by Credit Corp Group misled investors.
Japanese bank SMBC, which was duped by fraudster Bill Papas to enter into agreements with a Humm subsidiary for assets and receivables that didn't exist, has won the right to call in warranties on its $113.7 million investment.
AUSTRAC has ordered Airwallex to appoint an external auditor, amid concerns about the payment platform's monitoring of suspicious matters.
The Commonwealth Bank has paid $792,000 in penalties after the consumer watchdog found it had failed to enable data sharing for certain business customers.
The High Court is poised to provide guidance on the defence of honest concurrent use in trade mark disputes, agreeing to hear an appeal by buy now, pay later giant Zip Co in its fight with Firstmac over the 'Zip' trade mark.