An Australian arm of French banking powerhouse Société Générale has pleaded guilty to client money offences, after it reported to the Australian Securities and Investment Commission that it had deposited client money into unauthorised bank accounts.
AMP’s chief executive Francesco De Ferrari has gone on the offensive against class actions in Australia, saying litigation funders were driving up the cost of doing business, resulting in job losses and increasing costs of financial advice.
Telstra has been ordered to provide technology company Siemens Industry Software with all documents relating to the identity of account holders who may have infringed Siemens’ copyright.
A judge has rejected new evidence sought to be advanced by Hytera Communications in its IP battle with Motorola that Motorola deliberately delayed notifying Hytera of possible theft of its source code because it wanted to improve its market position.
Shine Lawyers has been given the go ahead to use two reports produced in three settled PFAS class actions as evidence in its latest case over the Defence Department’s firefighting foam, with a judge saying any implied undertaking not to re-use the material lost force when the information became public.
The embattled founder of Mayfair 101 investment group has denied allegations that its $80 million IPO Wealth fund is a failed Ponzi scheme as he fights the appointment of a provisional liquidator to the fund.
A contradictor investigating alleged professional misconduct on the part of the legal team and funder behind a class action against failed Banksia Securities will subpoena the bank records of deceased class action lawyer and funder Mark Elliott and associated companies. Meanwhile, the barrister for the lead applicant has returned her brief on the eve of trial, on the advice of the bar ethics committee.
Gloria Jeans’ owner Retail Food Group has avoided enforcement action by the Australian Securities and Investments Commission after an investigation sparked by last year’s damning parliamentary report into the franchise sector.
Owners of units in Sydney’s Opal Tower have filed a lawsuit against the NSW Government and builder Icon after allegedly discovering more than 500 additional defects in the troubled building.
Citing the “crippling financial impact” of the coronavirus pandemic, Australian swimwear company Seafolly has become the latest fashion retailer to enter voluntary administration.
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