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AUSTRAC has ordered buy now, pay later giant Afterpay to appoint an independent auditor to oversee its compliance with anti-money laundering laws.
ACCC raises competition concerns about Landmark’s $469M bid for Ruralco
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The Australian Competition and Consumer Commission has raised competition concerns about rural supply giant Landmark’s proposed $469 million takeover of competitor Ruralco, a move that would consolidate two of the three largest players in the rural merchandise market.
ACCC too late to alter Pacific National undertaking, judge says
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The Australian Competition and Consumer Commission has come up short again in its challenge to Pacific National’s $205 million acquisition of competitor Aurizon’s Queensland freight terminal, with a judge shooting down the regulator’s request for a variation of Pacific’s undertaking that it will not block third parties from accessing the terminal.
ASIC narrowly loses High Court appeal in outback book-up case
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The Australian Securities and Investments Commission has narrowly lost its High Court appeal of a ruling that found the owner of a South Australian outback general store had not acted unconscionably by selling used cars through a “book-up” system.
More than half of all federal class action settlements missing vital info: report
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More than 55 percent of the 154 settlements reached in federal class actions in Australia are lacking critical information about the deal, and the extensive use by judges of confidentiality orders is partly to blame, according to a new paper by a leading class action expert.
Westpac settles class action over alleged Ponzi scheme
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Banking giant Westpac has settled an investor class action brought by Levitt Robinson for its alleged role in an unregistered managed investment scheme.
NAB may face beefed up class action over ‘worthless’ insurance
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Slater and Gordon is looking to significantly expand its class action against National Australia Bank over the sale of “worthless” credit card insurance to include personal loan customers who were sold allegedly unsuitable insurance policies.
Bannister Law founder facing subpoena in NSW ambulance privacy class action
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A class action against the NSW government over a contractor who sold the personal details of 130 ambulance workers to personal injury law firms has flagged it may subpoena the founder and principal of Bannister Law, which purchased the confidential information.
Maurice Blackburn denies infringing State Street IP with Fearless Girl replica
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Maurice Blackburn has hit back at a lawsuit by State Street Global Advisors over the law firm’s use of a replica of its Fearless Girl statue, denying it has infringed the asset manager’s intellectual property.
Shine, Slater & Gordon dismiss speculation of merger
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Shine Lawyers and Slater & Gordon on Tuesday denied media reports that the two law firms were in merger talks or that there were any imminent plans for a union.