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‘A significant imbalance’: Bendigo and Adelaide Bank loan contracts unfair, court finds
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.
Law firm accused of pressuring ex-Qantas employee to settle workers comp claim
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.
High Court takes up Westpac fight against ASIC personal advice case
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.
Halifax liquidators’ decision to not realise investments gets court backing
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.
Federal Court grapples with own practice note in IAG insurance class action
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.
ASIC pans Wagyu and shiraz ‘thought experiments’ in Westpac home loan appeal
ASIC has criticised a Federal Court judge for his 'thought experiments' around prospective home loan applicants feasting on Wagyu beef and shiraz, as the regulator challenges the judge's dismissal of its responsible lending case against Westpac.
No harm, no foul? Full Court weighs ACCC challenge to flushable wipes ruling
The ACCC claims it was not required to prove Kimberly-Clark's flushable wipes caused actual harm to sewers, as it challenges a ruling that disposed of its consumer law case against the personal care giant.
Chinese investors can offload property, recoup losses from failed investment scheme
A Gold Coast development property procured through a settlement with a Sydney-based financial advisory firm facing two separate class actions can be sold to recoup losses by investors who sank over $14 million into a property investment scheme, a court has found.
Sydney financial advisor hit with $14.5M class action by Chinese investors
A Sydney-based financial advisory firm has been hit with a class action by a group of Chinese investors over a property investment and visa scheme that allegedly saw group members lose $14.5 million in funds.
Class wins access to Appco insurance docs in sham contracting case
Appco has agreed to hand over insurance policy documents to the lead applicant in a $90 million sham contracting class action, amid concerns about the dire financial state of the fundraising company as the matter moves towards mediation.