A judge has ordered ASIC to flesh out its case accusing the Retail Employees Superannuation of misleading members about their ability to move their super out of the REST Trust, given the “significant” allegations that a deliberate system was behind the superannuation trustee’s alleged misconduct.
Maurice Blackburn has brought a second class action against two NAB units over $6.3 billion in super funds, after the law firm’s first attempt was shut down by a state court as invalid.
The prosecution in a criminal cartel case against several banks and high-ranking executives over a $2.5 billion ANZ share placement has fought back against accusations that its indictment is “fundamentally flawed” and should be quashed.
A judge has found that Clive Palmer’s Mineralogy breached an agreement with Hong Kong-based CITIC over the acquisition of mining tenements to extract one billion tonnes of iron ore in the Pilbara region.
Two Commonwealth Bank of Australia subsidiaries have denied that they owed fiduciary duties to group members in a class action over allegedly excessive insurance premiums pushed onto customers because of commissions and other benefits to financial advisors.
Clive Palmer and his company Mineralogy will have to press forward with their appeal of a judgment that found their lawsuit against Hong Kong-based CITIC was an abuse of process, after an appeals court dismissed the mining magnate’s allegations of “sinister” conduct by CITIC.
PZ Cussons has lost its bid for indemnity costs against the ACCC, with a judge saying the consumer watchdog’s case over an alleged laundry detergent cartel was “significantly wanting” but not hopeless or doomed to fail.
Peters Ice Cream has denied claims by the ACCC that it signed an agreement for the exclusive distribution of its single serve ice creams to service stations and convenience stores in order to ice competitors out of the market, saying competitors had many options for serving up their frozen treats to ice cream lovers.
Whistleblower JPMorgan can’t be a witness in a criminal cartel case over a $2.5 billion ANZ share placement that has ensnared several investment banks and top executives and claim privilege over witness statements relevant to the case, a court has heard.
Bendigo and Adelaide Bank has lost its appeal of a ruling that revoked its 22-year-old ‘community bank’ trade mark, with the Full Federal Court agreeing that the phrase has an ordinary signification and cannot be trade marked for the bank’s services.