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The ACCC has rejected ANZ’s $4.9 billion acquisition of Queensland-based Suncorp, setting up a likely challenge before the Australian Competition Tribunal.
Deloitte’s $2.5M bill in CBA class action holds up settlement approval
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A judge asked to approve a $50 million settlement in a consumer credit insurance class action against the Commonwealth Bank has questioned a $2.5 million deduction for professional services firm Deloitte.
Equitable briefing of barristers crucial for profession and clients, peak legal bodies say
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Responding to an attack on the value of equitable briefing of barristers, peak legal bodies have reaffirmed their support for the initiative, which they say is critical for the profession and in the best interests of clients.
Judge asks if class action firm’s uncertain GCO back-up plan ‘artificial’
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A judge overseeing a class action against Suncorp subsidiary AAI has questioned whether the “uncertain” plan B of a law firm seeking a 25 per cent group costs order was artificially uncertain to increase the relative appeal of its contingency fee bid.
ASIC takes Dixon Advisory director to court over $19M debt
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ASIC is seeking penalties against Dixon Advisory & Superannuation Services director Paul Ryan for allegedly failing to consider clients when executing a deed that affected the financial advice firm’s ability to recoup a $19 million debt from its holding company.
Funder wins indemnity costs despite ‘tactical’ $2M settlement offer
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A funder has won its bid for indemnity costs following a $2 million settlement offer, despite the offer being a ‘tactical’ move for costs protection in its successful $14.8 million claim against a Sydney property developer.
Pelvic mesh law firm can’t recover $32M in interest on loan to fund class action
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Shine Lawyers has lost its bid to recover $32 million in interest on a loan it took out to run two pelvic mesh class actions against Johnson & Johnson, with a judge finding it would make a “marginal settlement less than reasonable”.
Coalition urges government to ‘show some leadership’ on AI regulation
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A Coalition MP has urged the government to take action on the regulation of artificial intelligence, flagging “very significant” issues in the intellectual property sphere.
Linda Reynolds sues Brittany Higgins for defamation over social media posts
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Senator Linda Reynolds has brought action against former Liberal staffer Brittany Higgins for social media posts the federal politician claims defame her.
ASIC hits eToro with first-ever design and distribution action over CFDs
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The Australian Securities and Investments Commission has filed its first action alleging breach of obligations in designing and selling financial products, accusing online investment platform eToro of inappropriately exposing clients to high risk CFDs.