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A Federal Court judge has signed off on a $700 million settlement between AUSTRAC and Commonwealth Bank of Australia for violating anti-money laundering and counter-terrorism financing laws, saying the penalty showed the court's "strong disapproval" of the bank's actions.
A NSW Supreme Court judge refused Friday to pause one of five class actions against AMP despite an impending battle over where the cases should be heard.
A judge has ordered mediation in the Brisbane floods class action, in which the victims of the 2011 disaster are seeking up to $1 billion in compensation.
A federal judge on Friday set an August date to hear AMP's arguments for why competing class actions should be moved to the NSW Supreme Court, but ordered the company to alert the state court to the brewing jurisdictional battle.
AMP will begin its push on Friday to move competing Federal Court class actions to the NSW Supreme Court, but the company will face fierce opposition.
A judge overseeing five Dieselgate class actions against Volkswagen questioned on Wednesday the car giant's claim that it wanted to close down two of the cases -- run by Bannister Law -- for the benefit of group members.
The fate of class actions against Volkswagen in the sprawling Australian case over the car maker's diesel emissions cheating scandal will be the subject of a major court battle starting Wednesday.
Commonwealth Bank of Australia will pay $700 million to settle claims of lax anti-money laundering oversight.
Employment Minister Michaelia Cash vowed Thursday to challenge a subpoena ordered by the Federal Court to appear as a witness in a case over last year's raids on the offices of the Australian Workers' Union.
The litigation funder behind the Federal Court's precedential ruling that established the first common fund order in an Australian class action has secured a $30.75 million payout in the case.