Herbert Smith Freehills

The failure of two class actions to prove loss linked to the Commonwealth Bank's disclosure breaches was not the fault of the bank, an appeals court has held in dealing the latest blow to shareholder group proceedings. 

A $59 million settlement has been reached in a long-running class action accusing five major banks of foreign exchange rate-rigging.

HCF Life insurance has been hit with a $750,000 penalty for including a pre-existing condition term in a life insurance policy, which a judge found was likely to mislead.

Two class actions against Commonwealth Bank have partially succeeded on appeal, with a finding that the bank breached its continuous disclosure obligations, but damages still elude shareholders.

Resolving a split between courts, the High Court has confirmed that judges have power to make soft class closure orders, which require class action members to register before mediation to participate in any resulting settlement.

ANZ has sued several insurers seeking coverage for two class action settlements totalling $117 million, plus defence costs, in cases stemming from the banking royal commission. 

Shareholders are set to pocket 58 per cent of a $65 million settlement in a class action against Treasury Wine Estates if the deal is approved by a court at a hearing this month.

Herbert Smith Freehills has bolstered its Brisbane energy practice by luring a pair of partners from Allens and Johnson Winter Slattery.

Clive Palmer's Mineralogy can access the content of email inboxes of two senior executives at engineering firm CITIC in a feud over the $12 billion Sino Iron project in Western Australia’s Pilbara region. 

Australian mining company Gold Road Resources has agreed to a $3.7 billion takeover by South African mining company Gold Fields.