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Bank of Queensland has been called out by two regulators over its compliance with anti-money laundering and counter-terrorism financing laws and its risk management practices.
In battle of Spitfire creditors, appeals court provides clarity on R&D refunds
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A private investment fund has won its claim as a secured creditor over $2 million in research and development tax refunds that a court previously found should go to employees in a fight over funds remaining following the collapse of fintech Spitfire Corporation.
Banton Group snags two ‘hardcore litigators’ to power overseas expansion
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Boutique litigation firm Banton Group has hired Laura Keily and Ryan McCrosson as name partners, as as the firm eyes expansion into the US, UK and Cayman markets.
Tyro class action judge OK’s $2.5M in settlement deductions after railing against earlier deal
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A judge who eviscerated a prior bid by a law firm and funder to take home 60 per cent of a $5 million class action settlement with Tyro has allowed them to net half of the proceeds, questioning whether some of the costs amounted to a “complete breach” of legal professional duties.
Trial vacated in class action against Deloitte over Hastie audits
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Trial in a protracted class action against Deloitte over the collapse of construction group Hastie has been abandoned, signalling a settlement is in the works.
King & Wood Mallesons ignored Sargon liquidators’ demand for $540,000, court told
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A lawsuit by the liquidators of Sargon Capital alleges law firm King & Wood Mallesons “refused or neglected” a demand to return over $540,000 in alleged unfair preference payments and should have known the fintech was insolvent when the payments were made.
Crown to pay $450M to settle AUSTRAC case
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Crown Resorts has reached agreement with AUSTRAC to pay a $450 million penalty for the casino operator’s serious breaches of the anti-money laundering and counter-terrorism financing laws.
Bruce Lehrmann drops defamation case against News Corp
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Accused rapist Bruce Lehrmann has discontinued his case alleging News Corp and journalist Samantha Maiden defamed him with the publication of two articles on the alleged assault of Liberal staffer Brittany Higgins.
‘Why do they have to be so precise’: Judge quizzes crypto issuer over class action pleadings
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The judge overseeing a class action against Qoin cryptocurrency issuer BPS Financial and several related companies has questioned the level of precision required of the pleadings, as the company fights the applicant’s bid to amend its case for the fourth time.
Tradie platform Hipages admits using ‘subscription traps’
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Online home improvement platform Hipages has admitted that it likely engaged in misleading or deceptive conduct by failing to disclose contract terms that allowed it to automatically renew subscriptions and charge early termination fees.