ASIC
ASIC seeks injunction against adviser linked to $520M in Shield, First Guardian investments
ASIC wants an injunction against a financial adviser whose "honey pot" marketing allegedly led to 6,000 clients pumping over $520 million into the collapsed Shield and First Guardian funds.
Financial Services
RAMS ordered to pay $20M penalty in ASIC case
Defunct Westpac home loan unit RAMS has been hit with a $20 million penalty after admitting to widespread misconduct at its franchises over a four-year period.
Class Actions
JB Hi-Fi can’t get closure in class action over ‘worthless’ warranties
JB Hi-Fi has lost its bid for soft class closure orders in a class action on behalf of eight million customers, with a judge finding it would likely lead to conflicts of interest and a "post-settlement wave" of late registrations.
Defamation
Rebel Wilson continues to ‘unapologetically defame’ actress, court told
Hollywood star Rebel Wilson, who faces a defamation case by actress Charlotte MacInnes over social media posts, continues to "unapologetically defame" MacInnes, the Federal Court heard Friday.
M&A
ACCC won’t fight $75M Cuscal, Indue tie-up
The Australian Competition and Consumer Commission has cleared the way for ASX-listed Cuscal's to acquire payment facilitation supplier Indue, saying it was unlikely to substantially lessen competition.
Insurance
Clyde & Co lures corporate insurance solicitor back from Gilchrist Connell
Clyde & Co has boosted its corporate insurance offering, welcoming back solicitor Yvonne Lam after her stint at Gilchrist Connell.
Courts
Victoria Supreme Court gets on the fast track with new expedited trial list
The Supreme Court of Victoria has debuted a new expedited case list for the Commercial Court, aimed at fast-tracking urgent cases and those that can be heard in three days or less.
M&A
Johns Lyng top execs dragged into suit over $75M sale of retailer
Two senior Johns Lyng Group executives have been dragged into a dispute over the $75 million sale of Nike franchisee Retail Prodigy Group.
Financial Services
Another Keystone Shield spruiker cops financial adviser ban
A second MWL Financial adviser has been banned this week by the corporate regulator as part of its probe into the costly collapse of Keystone's failed Shield Master Fund.
Ben Hancock
Mastercard can appeal privilege waiver ruling in ACCC’s case
Mastercard can pursue an appeal of a ruling for the competition regulator requiring the credit card giant to hand over communications about its agreements with retailers, which are at the centre of a misuse of market power case.
