A Pacific Current shareholder has won court approval to bring a derivative lawsuit against certain current and former directors of the funds management company for allegedly breaching their duty of care and diligence in relation to the company’s 2014 merger with US-based Northern Lights Capital Group.
A judge has questioned whether he should sign off on a $49.5 million settlement in a class action against National Australia Bank over allegedly worthless credit card insurance, which he said had a “fundamental flaw” because it did not contain a provision automatically cancelling group members’ policies.
The ACCC has revealed that it will bring at least four new competition cases this year, with chairman Rod Sims also promising that the regulator could pick up the pace when it comes to launching proceedings.
ASIC has criticised a Federal Court judge for his ‘thought experiments’ around prospective home loan applicants feasting on Wagyu beef and shiraz, as the regulator challenges the judge’s dismissal of its responsible lending case against Westpac.
A former Maple Brown Abbott analyst has pleaded guilty to insider trading and communicating inside information in relation to $1.6 million in shares of collapsed video company Big Un.
Two Geowash executives have appealed a ruling that found they were knowingly involved in the car wash franchisor’s unconscionable conduct in its dealings with franchisees.
An insurance broker breached its duties to a software company and must cover the costs of a settlement it reached with Microsoft for copyright infringement, a court has found.
The Australian Broadcasting Corporation has secured a short-lived agreement by the Australian Federal Police not to look at the material seized in a controversial raid on the national broadcaster’s headquarters as it considers whether to take its battle with the agency to an appeals court.
The Kingdom of Spain must pay $375 million after it failed in its bid to claim sovereign immunity from the enforcement of two foreign arbitration awards related to renewable energy investments.
The ACCC claims it was not required to prove Kimberly-Clark’s flushable wipes caused actual harm to sewers, as it challenges a ruling that disposed of its consumer law case against the personal care giant.
For information on rights and reprints, contact subscriptions@lawyerly.com.au
