Commonwealth Bank of Australia chief Matt Comyn has pointed the finger at his predecessor, Ian Narev, for the bank’s selling of credit insurance to ineligible customers, claiming the former CEO failed to heed advice and stop selling the products.
The scope of the government’s power to detain individuals is “a matter of considerable public importance”, a judge has said, shooting down the Commonwealth’s bid for costs after it won the dismissal of a class action brought on behalf of asylum seekers who allege they were unlawfully imprisoned in Australian immigration detention centres.
Law firm Quinn Emanuel Urquhart & Sullivan has launched a shareholder class action against engineering and infrastructure firm RCR Tomlinson after “catastrophic” losses caused by $57 million in write-downs on two of the company’s North Queensland solar farms.
Energy drink giant Monster Energy has dropped its challenge to a ruling allowing alcoholic spirits wholesaler Fernbrew to trade mark the term ‘Real Beast’ for alcoholic beverages.
The Full Federal Court has dismissed a challenge to a ruling that chose one of three shareholder class actions to proceed against GetSwift, saying the court had the power to permanently stay competing cases. But an injunction blocking the losing law firms from communicating with clients was going too far, it said.
Real estate agency Barry Plant has been hit with a $720,000 fine after admitting it breached the consumer laws by underquoting the likely selling price of 20 properties listed online.
Pacific National would not misuse its market power after taking control of an important rail terminal in Brisbane because that would be “irrational”, the Federal Court heard Monday at the start of a two-week trial in the competition watchdog’s case alleging the rail giant colluded with competitor Aurizon to become the dominant operator of key freight corridors.
The accountant and best friend of fraudster Scott Williams “prevaricated and lied” to hide his knowledge of the Centaur Litigation Ponzi scheme that misappropriated $32 million and led to the collapse of the litigation funder, a court has heard.
ASIC has banned the former director of AGM Markets from serving as a director for eight years, a few weeks after revoking the OTC derivative issuer’s financial services licence.
A groundbreaking judgment by the Full Federal Court over competing class actions will be handed down Tuesday morning and is expected to give judges much needed guidance on how to move forward when confronted, as they increasingly are, with multiple proceedings over the same alleged misconduct.
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