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Businesses bringing a class action over Sydney's $3 billion light rail project are pursuing a bold new claim that the NSW government pay not only for damages related to their nuisance claims, but for the 40 percent commission the litigation's funder wants from a post-trial judgment.
The former chief executive of Commonwealth Bank has told a court internal auditors raised issues with CBA's anti-money laundering and counter-terrorism financing compliance four years before AUSTRAC took action that saw the bank's share price plummet.
The Commonwealth Bank of Australia has argued that disclosing its money laundering failures before AUSTRAC brought proceedings would have misled the market, as the bank takes the rare move of defending a shareholder class action at trial.
The New South Wales government has rejected a class action's claims that it dropped the ball in relation to the identification and management of underground utilities which caused delays in Sydney’s $3 billion light rail project.
While CBA's defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.
A class action on behalf of 3,500 business owners along Sydney’s light rail route has told a court that group members bore the brunt of the project’s delayed construction, described as “a train wreck which could be predicted from a mile away”.
The Commonwealth Bank of Australia faces trial Monday in one of several class actions filed against a major Australian company in recent years over allegedly lax money laundering practices and disclosures.
A judge has slammed Domino’s for its “entirely unsatisfactory” opening submissions in an underpayments class action, warning the pizza giant not to hide arguments and evidence up its sleeve.
A trial set to start next week in a class action over Sydney’s $3 billion delayed light rail could be pushed off until next year as the parties clash over an eleventh hour bid by the applicant to amend the case.
A COVID-19 outbreak aboard the Ruby Princess that left 28 people dead was “something that was very likely to happen” and the cruise should never have sailed, a court heard as a class action trial against Carnival PLC kicked off.