Defunct Westpac home loan unit RAMS has been hit with a $20 million penalty after admitting to widespread misconduct at its franchises over a four-year period.
A judge has raised concerns about whether an agreed-to $20 million penalty against Westpac’s defunct home loan subsidiary RAMS is enough to deter other lenders from breaking credit rules.
ASX-traded Structural Monitoring Systems has been barred from sacking its CEO after he launched whistleblower proceedings against the aerospace company.
Former Keybridge CEO Nicholas Bolton, who was voted out in a board spill earlier this year, has lost his bid to bring a derivative suit against director Frank Catalano over a failed bid to acquire a rural publisher previously owned by Nine.
ASX-listed biotech 4D Medical has sued competitor Cyclopharm alleging the company made false, misleading and malicious statements about its rival during an online webinar prompted by a “fake” question.
Billabong founder Gordon Merchant has won the ear of the High Court in his fight over what the ATO claims was a “wash sale” of his 10 million shares in the retailer, but the justices have also agreed to hear the tax office’s appeal.
Engineering firm WSP may seek to permanently stay a new suit by Canberra builder Morris Construction that claims it should be on the hook for engineering and design failures by a subsidiary, the latest fight between the parties over a troubled Kingston development.
The trustee for shareholders that want to retain their Dexus-managed stake in Australia Pacific Airports Corporation can’t be separately represented from the selling group, a judge has ruled in a case that pits APAC’s investors against each other.
A judge did not need to recuse himself from deciding the penalty in ASIC’s case against Sunshine Loans because his earlier adverse credit findings — far from giving rise to bias concerns — were relevant to the task, the regulator has told the High Court.
An appeals court has binned construction firm Shamrock’s second bid to toss waste management firm Cleanaway’s $31 million claim for costs associated with cleanup of an Ipswich dump following a flood.