A judge has approved $32 million in penalties against Westpac in two cases brought by the corporate regulator accusing the bank of misleading thousands of “vulnerable” customers about their debts and failing to manage the accounts of deregistered companies.
General Motors Holden Australia has denied that it owes compensation to Holden dealers over its decision to retire the iconic brand in Australia, and says its dependence on other GM units to supply the cars constituted “an event beyond its reasonable control”.
IOOF unit RI Advice has agreed to settle novel proceedings brought by the Australian Securities and Investments Commission claiming it failed to protect its clients against cybersecurity risks.
Fair Work Commissioner Nick Wilson has dismissed a recusal bid by nine former Virgin employees who argued his frequent flyer membership with the airline meant he was unable to hear their cases.
In yet another blow for the embattled wealth manager, the Australian Securities and Investments Commission has suspended Dixon Advisory’s financial services licence.
The Full Court has overturned a landmark judgment which found artificial intelligence can be named as an inventor on patent applications, in a decision which brings Australia in line with findings from courts in the UK, US and EU.
Rail freight operator Aurizon has triumphed in a tax dispute with the ATO, with a court finding that credit for a $4.4 billion loan by the Queensland government made during an initial public offering in 2010 was share capital despite no shares being issued to the state government.
The consumer watchdog is challenging a court ruling that found Mazda’s treatment of customers with defective vehicles was “appalling” but did not amount to unconscionable conduct.
The Australian Competition and Consumer Commission has been asked to investigate Qantas’ “unworkable” flight credit redemption scheme, which consumer group Choice says places unreasonable hurdles in the way of travellers trying to get a refund or redeem vouchers.
Almost half of the $3 million in legal costs incurred by former Tennis Australia president Steven Healy in successfully defending against the regulator’s case over the broadcast rights to the Open were for “luxuries of litigation” that he should pay for himself, ASIC has told a court.