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ASIC has dropped its fight with Westpac over the bank's financial assessment of home loan borrowers following political pressure, citing the "challenging economic circumstances".
A referee has been appointed to examine the fees for the liquidators of stockbroker Halifax Investment Services, which collapsed in December 2018, trapping around $200 million in client funds.
Daily Telegraph publisher Nationwide News has failed in its appeal of a judgment that found it defamed Geoffrey Rush in articles that accused the Oscar-winning actor of sexually inappropriate behaviour, with an appeals court describing the stories as a “sensationalised tabloid crusade”.
The Australian Securities and Investments Commission has failed in a high-profile challenge to a ruling for Westpac in its responsible lending case against the bank, with an appeals court majority saying the regulator read too much into the national credit laws.
AFT Pharmaceuticals is seeking to reopen a lawsuit against Reckitt Benckiser over ads for its painkiller Maxigesic after judgment was delivered in the matter, claiming the judge's declarations contained an error, an argument slammed by Reckitt as "extraordinary".
The Federal Court has granted ASIC a legal win against Bendigo and Adelaide Bank, finding that its small business loan contracts were unfair and created a "significant imbalance" that was likely to detriment customers.
A former customer service manager for Qantas who claims to suffer from severe depression and anxiety has brought allegations of disability discrimination against Maurice Blackburn, claiming the law firm put pressure on her to settle her workers compensation case against the airline.
The High Court has agreed to hear a challenge by Westpac to a ruling in favour of ASIC that found the bank violated its duty to act in customers' best interests during a superannuation rollover campaign, a case that could clarify the line between personal and general financial advice.
The liquidators of defunct stockbroker Halifax are justified in their decision to refrain from realising existing investments over the protests of some investors, until substantive issues in the liquidation are resolved, a court has directed.
With the common fund order tossed in a class action against two IAG entities over allegedly worthless add-on insurance, a Federal Court judge on Tuesday was asked to grapple with a practice note in determining when to notify group members of a possible order to "equitably and fairly" distribute the legal costs and funding commission in the proceedings.