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An Administrative Review Tribunal has halved a six-year ban on a former United Global Capital financial advisor imposed by the Australian Securities and Investments Commission, calling the ban "excessive".
A judge has said an 11-day trial in ASIC's case against Solve My Debt Now will go ahead in December despite a third set of solicitors ceasing to act and no sign that the debt management firm will put on evidence.
ASIC has won winding up orders against investment firm Falcon Capital and its managed investment scheme First Guardian Master Fund, after raising concerns about potential risks to investors.
A judge has approved a $3.5 million settlement in a class action brought by former clients of Sydney fraudster Melissa Caddick.
A class action brought by former clients of Melissa Caddick, who were defrauded out of $23 million, have settled their claims against a group of SMSF auditors.
The auditors of self-managed superannuation funds that clients of Melissa Caddick invested with the Sydney fraudster and her company Maliver have hit back at class action claims, saying the clients have themselves to blame for handing over “direct control” of their funds.
A judge's decision to chop $810,000 from the funder's cut of a settled class action against Westpac sounds a warning to class action litigators that when it comes to determining the size of a commission, case budgets matter.
A $29.95 million settlement resolving a superannuation class action against two Westpac units has won court approval. The judge overseeing the case has also indicated he will OK the litigation funder's commission but only some of its after-the-event insurance premium.
Twenty-four former clients of Melissa Caddick who were defrauded out $24.5 million have filed a class action against the auditors of the self-managed superannuation funds they used to invest their retirement savings with the Sydney fraudster.
The receivers of Melissa Caddick’s estate have reached an in-principle agreement with the Sydney frauster's husband and son in relation to the division of a small number of remaining assets.