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The director of property spruiker We Buy Houses has appealed a record $6 million for misleading property investors with claims they could learn to buy real estate for $1.
High Court rejects CFMMEU’s appeal of $306,000 fine
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The Construction, Forestry, Maritime, Mining and Energy union has lost its bid to be heard by the High Court of Australia after an appeals court upheld a $306,000 fine for the illegal conduct of its former Queensland president and warned of the prospect of deregistration.
Battle to lead AMP action begins, and class members already winners, court told
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The showdown between five law firms vying to lead a class action over the AMP fees for no service scandal kicked off in the NSW Supreme Court Thursday with counsel for one case saying the contest, although costly and consuming, would ultimately be a win for all class action participants.
Glencore in-house counsel wins access to ‘highly confidential’ deal docs, again
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The judge overseeing a fraudulent concealment trial over Cargill’s $420 million purchase of the Joe White malt business has reaffirmed an earlier ruling allowing an in-house counsel at Glencore to access documents related to the possible sale of Cargill’s malting business.
Ex-Murray Goulburn head to pay $200k in ACCC milk price case
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The former managing director of Murray Goulburn will be hit with a $200,000 penalty for being knowingly concerned in false representations made by the dairy producer to farmers about the farmgate milk prices it would pay during the 2015-16 milk season.
Ex-RBA official Christian Boillot jailed for 2.5 years over bribery scandal
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Former Reserve Bank of Australia official Christian Boillot was sentenced Thursday to a two and a half years’ suspended jail term over his role in a conspiracy to bribe foreign officials to win banknote business.
Ramsay Health Care’s Nuramel trade mark beats off challenge
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Ramsay Health Care has defeated a challenge to its Nuramel trade mark for a brand of infant formula, with IP Australia saying while the mark was an exact anagram of Biofarma’s Munarel, it wasn’t deceptively similar.
ASIC filing puts spotlight on ANZ treasurer in $2.5B capital raising case
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ANZ treasurer Rick Moscati was at the centre of a flurry of phone calls and meetings with underwriters and other bank executives on the day the underwriters agreed to pick up a $791 million shortfall in a $2.5 billion capital raising, an agreement which has led to groundbreaking cases by two regulators, according to a new court document.
As AMP royal commission witness retires, class action parade begins
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AMP’s advice executive Jack Regan, the witness who aired the firm’s fees-for-no-service dirty laundry at the Royal Commission, has retired, a day before five law firms compete to lead a class action over the scandal.
NAB units admit to deceptive conduct in $34M fees for no service case
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Two NAB wealth management units have admitted to engaging in misleading and deceptive conduct by deducting $34.4 million in fees for services that were never provided.