On the first day of a seven-week class action trial, a judge has heard that AMP Superannuation failed to renegotiate interest rates with AMP Bank for up to 12 years, despite investing as much as $2 billion in customers’ superannuation with the bank.
A judge has dismissed a class action against ex-CBA unit Count Financial alleging that it breached it duty to act in clients’ best interests and ensure adviser remuneration was free of conflict.
Cladding maker 3A Composites has lost its bid to set aside a cross-claim in a suit against the builder of the Tempo residential towers in Botany Bay over allegedly flammable aluminium composite panels.
Defunct education provider Captain Cook College and its parent company have been penalised over $30 million for enrolling thousands of vulnerable students who accrued $60 million in debt.
In a court fight between engineering firm Clough and its former joint venture partner Elecnor, a judge has questioned Elecnor’s “extremely inconvenient” bid to send Clough’s $54 million cross-claim to arbitration in Singapore.
The Beach Hotel in Byron Bay has reportedly changed hands for $140 million — the second highest price paid for an Australian pub.
Woodside’s North West Shelf gas project will be extended until 2070, after receiving approval from the environment minister.
MAC Copper, which operates the Cobar copper mine in NSW, has accepted a $1.6 billion takeover offer from South African-based gold mining company Harmony Gold.
Surfers Paradise’s Cavill Lane retail precinct has been sold for $31 million to investment management companies Boston Global and The Property Factory.
Coal producer TerraCom has agreed to pay $7.5 million to resolve ASIC proceedings alleging it made misleading statement to the market that damaged a whistleblower’s reputation.