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$47M settlement in ANZ credit insurance class action reasonable, judge says
Financial Services 2023-06-16 4:37 pm By Christine Caulfield

A $47 million settlement in a class action against ANZ — one of three settlements in a series of class actions against the big banks […]

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Judge mulls contradictor over ATE costs in super class action against Westpac
Class Actions 2023-06-15 5:11 pm By Sam Matthews

A judge overseeing a superannuation class action against two Westpac units that settled for $30 million has flagged the possibility of appointing a contradictor to […]

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Destination High Court as law firm lodges fourth Downer EDI class action
Class Actions 2023-06-07 11:23 pm By Sam Matthews

Multiple class actions against Downer EDI over accounting irregularities might be bound for the High Court as complex legal questions swirl, a judge said on […]

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ā€˜Completely at seaā€™: Banks push for class closure in flex commissions cases
Class Actions 2023-06-02 10:33 pm By Sam Matthews

Westpac, Macquarie and ANZ are seeking class closure orders ahead of mediation in three class actions over flexible commissions schemes, telling a court hearing they […]

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Apple can argue patent invalid because of HP device first sold in 2000
Intellectual Property 2023-06-02 10:21 pm By Cindy Cameronne

Apple can argue an Australian non-practicing entity that claims its patents for a remote entry system were infringed by the tech company’s Touch ID and […]

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Virgin class action wants DOCA indemnity clause amended to reflect ‘what creditors were told’
Restructuring & Insolvency 2023-05-31 4:39 pm By Sam Matthews

A class action of bond holders accusing Virgin Australia of failing to disclose its true financial position in a 2019 prospectus for a capital raising […]

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More law firms ready class actions over Downer’s $40M earnings overstatement
Class Actions 2023-05-15 3:49 pm By Christine Caulfield

More class action law firms have pounced on Downer EDI’s “accounting irregularities” that led to the company overstating profits by up to $40 million. As […]

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Crown, AUSTRAC reach deal on penalty but court wants guidance on ill-gotten profits
AUSTRAC 2023-05-12 3:25 pm By Sam Matthews

Crown Resorts has reached agreement on a proposed penalty in AUSTRAC’s case alleging ā€œwidespread and serious non-complianceā€ with anti-money laundering and counter terrorism financing laws, […]

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Lenders of collapsed Arrium lose appeal over directors’ loan drawdowns
Financial Services 2023-05-10 12:23 pm By Sam Matthews

Commonwealth Bank and other lenders of failed steel giant Arrium have lost a second attempt to put two of the company’s directors on the hook […]

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Optus fronts Competition Tribunal to warn about ā€˜troublingā€™ $1.8B Telstra, TPG deal
Competition & Consumer Protection 2023-05-09 11:36 pm By Cindy Cameronne

Telstra and TPG have asked the Competition Tribunal to undo the ACCC’s rejection of their proposed regional network sharing agreement, but fellow telco Optus has […]

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