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Coal producer TerraCom has been joined to a lawsuit brought by Korean Midland Power against a unit testing lab ALS Limited over allegedly exaggerated coal testing results.
IG Markets class action drops conflicted remuneration claims
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A class action against online trading platform IG Markets over alleged risky contracts for difference has dropped its conflicted remuneration claims after the court heard it was struggling to find a sample group member.
Class action says AMP did ‘nothing’ for 12 years to get better rate for super clients
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On the first day of a seven-week class action trial, a judge has heard that AMP Superannuation failed to renegotiate interest rates with AMP Bank for up to 12 years, despite investing as much as $2 billion in customers’ superannuation with the bank.
Judge tosses financial advice class action against ex-CBA unit
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A judge has dismissed a class action against ex-CBA unit Count Financial alleging that it breached it duty to act in clients’ best interests and ensure adviser remuneration was free of conflict.
‘Better than nothing’: Judge OKs class action payout in Qoin
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A judge has approved a settlement in a class action against crypto firm BPS Financial that gives group members and the funder alleged worthless Qoin, an outcome described as “better than nothing”.
REA Group faces investigation by competition regulator
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Real estate listings giant REA Group on Tuesday confirmed media reports of an investigation by the Australian Competition and Consumer Commission.
3A can’t duck cross-claim over cladding at Botany Bay towers
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Cladding maker 3A Composites has lost its bid to set aside a cross-claim in a suit against the builder of the Tempo residential towers in Botany Bay over allegedly flammable aluminium composite panels.
Captain Cook hit with $30M in penalties for systemic unconscionable conduct
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Defunct education provider Captain Cook College and its parent company have been penalised over $30 million for enrolling thousands of vulnerable students who accrued $60 million in debt.
‘Extremely inconvenient’: Court unhappy with arbitration push in EnergyConnect project spat
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In a court fight between engineering firm Clough and its former joint venture partner Elecnor, a judge has questioned Elecnor’s “extremely inconvenient” bid to send Clough’s $54 million cross-claim to arbitration in Singapore.
Byron Bay’s The Beach Hotel sells for near record $140M
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The Beach Hotel in Byron Bay has reportedly changed hands for $140 million — the second highest price paid for an Australian pub.