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Settlement reached in class action against trustee of collapsed IPO Wealth
Financial Services 2022-04-07 6:50 pm By Christine Caulfield

The trustee of Mayfair Group’s collapsed IPO Wealth Fund has reached an in-principle settlement in a class action alleging it misled investors, who lost $86 million when the fund was wound up.

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Judge signs off on $1.5M penalty against Westpac for unsolicited insurance
Financial Services 2022-04-07 6:03 pm By Cat Fredenburgh

A judge has hit Westpac with a $1.5 million penalty for misleading 141 customers into believing they had purchased add-on insurance.

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Nurofen maker Reckitt-Benckiser loses High Court appeal bid in Maxigesic feud
Competition & Consumer Protection 2022-04-07 1:54 pm By Christine Caulfield

The High Court has rejected a special leave application by consumer goods giant Reckitt-Benckiser in its long-running battle with the maker of painkiller Maxigesic.

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IAG investigates underwriter accused of issuing unauthorised Greensill policy
Insurance 2022-04-07 9:53 pm By Miklos Bolza

Insurance Australia Group is investigating the underwriter behind an allegedly unauthorised trade credit policy issued to Greensill Capital, according to a defence by the insurer in a $43 million case brought by a Credit Suisse supply chain fund left heavily exposed after Greensill’s collapse.

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Smile Direct Club bites back in lawsuit over teeth straightener claims
ACCC 2022-04-07 10:10 pm By Sam Matthews

The maker of the popular Invisalign dental aligners may soon face a cross-claim from competitor SmileDirectClub, which it sued for allegedly misleading consumers about the cost and efficacy of its direct-to-consumer teeth alignment kits. 

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Novartis can’t appeal loss of experts in MS drug patent feud with Pharmacor
Intellectual Property 2022-04-07 12:29 pm By Christine Caulfield

The Full Federal Court won’t give Swiss pharmaceuticals giant Novartis the chance to appeal a ruling that threw out three of its four experts in a patent case against generic drug maker Pharmacor.

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PwC can’t ‘rout’ documents through ‘postbox’ lawyer to secure privilege, court finds
Tax 2022-04-06 5:52 pm By Miklos Bolza

Advice from non-lawyers and “routed” through a legal practitioner at multidisciplinary partnership PricewaterhouseCoopers cannot be shielded under legal professional privilege, the Federal Court has found.

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Connective directors hit with indemnity costs for ‘outrageous’ conduct in shareholder stoush
Securities 2022-04-06 4:55 pm By Miklos Bolza

The directors of mortgage aggregator Connective Services have been hit with indemnity costs for their “outrageous conduct” in pursuing litigation against a company shareholder, including giving false statements and destroying evidence.

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Judge to appoint costs referee in $56.3M Colonial First class action settlement
Class Actions 2022-04-06 3:33 pm By Sam Matthews

Continuing a recent trend in class actions, a judge will appoint a referee to weigh in on Maurice Blackburn’s costs in a $56.3 million settlement in a class action against Colonial First State, but has so far declined to appoint a contradictor.

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High Court awards Paralympian $6.75M for fall in campdrafting competition
High Court 2022-04-06 5:21 pm By Sam Matthews

The High Court has ordered a sports association to pay $6.75 million to a woman who suffered a serious spinal injury after falling during a campdrafting competition in Ellerston, New South Wales, overturning an appeals court decision that cleared the association of negligence.

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