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A judge has approved a $57.5 million settlement in a class action against ANZ over credit card interest, including allowing the funder to recoup $1.2 million in after-the-event insurance costs.
Investor class action against Linchpin insurer AIG prevails
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An investor class action against failed advisory firm Linchpin Capital and its former directors has won its bid to claim its losses against a $10 million insurance policy from AIG.
AGL cops a $25M penalty for overcharging welfare recipients
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Energy provider AGL has been slapped with a $25 million penalty after it continued to deduct payments from around 500 welfare recipients after they had closed their accounts.
IC Markets CEO hit with guillotine orders for filing defence
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A judge has set a final deadline for the CEO of International Capital Markets to file his defence in a class action over risky contracts for difference.
Swoosh accused of providing credit to financially stressed customers
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ASIC has sued credit contractor Swoosh Finance for allegedly providing unsuitable loans with high fees and interest rates to customers who showed “clear signs of financial distress”.
ACCC won’t give Catholic hospitals blessing to boycott private insurers
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The competition regulator plans to block a group of Catholic hospital operators from collectively boycotting large private health insurers in the event funding negotiations fail.
Hall & Wilcox brings on Moray & Agnew public law specialist
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Hall & Wilcox has recruited a partner to lead the firm’s newly-established Commonwealth Freedom of Information, information release and privacy practice.
Boral wins challenge to CEO cross-examination in class actions
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Boral has won a legal challenge to its former CEO facing cross-examination in a shareholder class action trial over an email referring to a confidential EY report.
CIMIC settles shareholder class action for $45.25M
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CIMIC has agreed to pay $45.25 million to settle a shareholder class action alleging it failed to properly inform the market about its investment in a Middle East company.
Hytera can’t dodge ‘substantial industrial theft’ finding in Motorola case
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An appeals court has rejected Chinese radio manufacturer Hytera’s challenge to a finding it misappropriated the source code of US mobile phone giant Motorola.