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The Australian Securities and Investments Commission has filed Federal Court proceedings against Bank of Queensland and Bendigo and Adelaide Bank over alleged unfair terms in their small business contracts.
Glencore prevails in $92M court battle with ATO
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Commodity trading and mining company Glencore has won a fight with the Australian Taxation Office over a $92 million tax bill related to copper purchased from a subsidiary operating the Cobar mine in NSW.
Sacked HWL Ebsworth special counsel loses ‘wholly unrealistic’ unlawful dismissal case
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A judge has thrown out an unlawful dismissal case brought by former HWL Ebsworth special counsel against the firm, describing his arguments as “trivial” and “wholly unrealistic”.
WorleyParsons denies bid to shut down class action will spark ‘brave new world’
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Counsel for WorleyParsons has denied the engineering firm’s attempt to end a shareholder class action mid-trial would be the start of a “brave new world” of no-case bids in representative proceedings, saying this was a rare instance of a case with “no chance of success”.
Jardine Lloyd Thompson hit with second class action over excessive premiums
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Insurance broker Jardine Lloyd Thompson is facing a second class action on behalf of local councils claiming it charged inflated premiums.
Zoetis loses challenge over security for costs in horse vaccine class action
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The Full Federal Court has shot down a challenge to a ruling denying horse vaccine maker Zoetis’ application for security for costs in an unfunded class action brought on behalf of horse owners alleging the company failed to warn about the potential side effects of the Hendra virus vaccine.
ACCC says Medibank misled consumers about policy benefits
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The Australian Competition and Consumer Commission has taken private health insurer Medibank to court for falsely telling consumers they were not eligible for certain coverage under their insurance policies, with over 800 policy holders denied coverage for joint investigation or reconstruction procedures.
Radio Rentals, AIG to pay $29M to settle ‘Rent, Try, Buy’ class action
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Radio Rentals and its insurer, AIG, have reached a $29 million settlement in a consumer class action alleging the company pushed misleading ‘Rent, Try, $1 Buy’ leases onto vulnerable customers.
Lindsay Fox, Max Beck lose high-stakes valuation case over Essendon Airport
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Billionaire Lindsay Fox and property magnate Max Beck have lost a dispute over the valuation of land at their jointly operated Essendon Airport, with a judge siding with the Federal Government’s method that calculated the site’s value at $349 million, not $7.1 million as claimed by their expert.
De-banking poses threat to foreign exchange competition, ACCC says
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The Australian Competition and Consumer Commission has warned it could take enforcement action if its finds banks are misleading customers about foreign exchanges fees and warned banks’ use of their compliance obligations to deny banking services to their non-bank competitors could constrain competition in the market for foreign exchange services.