ASIC has brought court action against Westpac for allegedly dropping the ball on financial hardship claims by customers, some of whom had property seized or declared bankruptcy while waiting for a response from the Big Four bank.
A judge has order ACBF Funeral Plans to pay $1.2 million for misleading its First Nations customers, a penalty less than one-fifth the fine sought by ASIC.
Qantas has responded to ACCC proceedings alleging it sold thousands of tickets on cancelled flights, saying the period in which the alleged unlawful conduct occurred was one of “well-publicised upheaval” for airlines.
Two former Ferrier Hodgson partners had conflicts of interest when they accepted appointments as administrators of a failed pig farm operation, an appeals court has found, but their remuneration won’t take a hit as a result.
The ACCC will seek a record penalty of more than $250 million against Qantas for selling tickets on cancelled flights, saying companies were not “sufficiently” scared of the consequences of misleading consumers.
Two units of insurer IAG are facing possible class actions that mirror claims in proceedings brought by the Australian Securities and Investments Commission last week that accuse the insurer of misleading home owners insurance customers about loyalty discounts.
ASIC wants to re-run its case against investment group M101 Nominees and founder James Mawhinney after admitting it made errors at its initial trial, arguing for new fines and disqualification orders on remittal by the Full Court, a judge has heard.
The ACCC has initiated court proceedings against Qantas for allegedly continuing to sell tickets on more than 8,000 flights that had been cancelled weeks earlier.
The Australian Securities and Investments Commission has launched legal action against five former directors and officers of defunct funeral insurance firm Youpla Group.
The corporate regulator has lost its civil case against Frank Wilson, the founder of sandalwood oil producer Quintis, after failing to persuade the Federal Court he withheld from the board the termination of major supply contracts with a Nestle unit.