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The Federal Government will not challenge a ruling in a class action brought on behalf of live exporters which found a total ban on live cattle exports to Indonesia in 2011 was “capricious and unreasonable”.
Morrison government hit with landmark climate change suit
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A law student represented by a former Federal Court judge has launched historic litigation seeking to hold the Australian government responsible for failing to disclose the impact of climate change on investors in sovereign bonds.
ANZ accuses ACCC of ‘heavying’ cartel witnesses from JPMorgan
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ANZ Banking Group has slammed a decision by the ACCC to escalate concerns that one of its key cartel witnesses was not being “full and frank”, claiming this was a way to put pressure on the witness and bring his evidence into line.
Finance experts recruited to advise ‘complex’ $17M tax fraud, police say
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Federal police have charged 12 members of an alleged sophisticated criminal syndicate, including construction industry figure George Alex, which authorities say enlisted the help of financial industry experts and former bankers to pull off a $17 million fraud.
CBA unit admits to misleading calls in ASIC case over MySuper accounts
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Commonwealth Bank’s wealth management unit Colonial First State has admitted misleading conduct in certain calls to superannuation members, but has otherwise denied claims by the corporate watchdog that it misled over 12,000 fund members during the transition to MySuper accounts.
Uber fails in second bid to put brakes on taxi driver class action
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Uber has lost its latest challenge to a landmark class action that alleges the ride-sharing giant engaged in a conspiracy to steal business from taxi and limousine drivers across four states, with an appeals court dismissing arguments the case failed to properly allege an intent to harm.
ASIC won’t appeal Westpac responsible lending case to High Court
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ASIC has dropped its fight with Westpac over the bank’s financial assessment of home loan borrowers following political pressure, citing the “challenging economic circumstances”.
Ashurst partner hit with indemnity costs in Point Piper property feud
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An Ashurst partner in a long-running stoush with his former Family Court judge neighbour over a property in the harbourfront Sydney suburb of Point Piper has been hit with indemnity costs for “unreasonably” pushing his case.
‘Not a single note’: ACCC accused of avoiding disclosure in ANZ cartel case
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The ACCC’s investigatory techniques have come under fire during a hearing over an alleged criminal cartel agreement between ANZ and two investment banks, with a barrister for one of the banks suggesting investigators from the regulator deliberately did not take notes during hundreds of days of witness interviews to avoid disclosure.
Judge slams opt out notice, ‘disturbing’ funder letter in Suncorp class action
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A judge overseeing a class action against Suncorp over alleged conflicted remuneration has questioned a proposed opt out notice telling group members they should sign up with the funder backing the case or it might not proceed.