Please login to bookmark Close
Mayfair 101 founder James Mawhinney has sued the Australian Securities and Investments Commission and its deputy chair Sarah Court, alleging the corporate regulator defamed him in a media release issued last month.
Judge’s comments on class action costs ‘hurtful’, law firm says
Please login to bookmark Close
A law firm has lost its bid to appoint a costs referee after reaching a $5.8 million class action settlement with the On The Run convenience store chain, saying it was “hurtful” for a judge to suggest the firm wanted to “maximise its position” over group members.
Cheese makers challenge Kraft’s ‘parmesan’ trade mark
Please login to bookmark Close
A consortium of parmigiano reggiano producers who claim Kraft Foods’ ‘Kraft parmesan cheese’ trade will lead customers to believe the food giant’s cheese is made in Italy have taken their fight to the Federal Court.
Equity Trustees sues investment firm over currency hedge trades
Please login to bookmark Close
Equity Trustees has sued asset manager Tactical Global Management seeking millions in compensation for losses allegedly stemming from over-hedging trades.
Ultiqa slapped with $900,000 penalty for timeshare sales tactics
Please login to bookmark Close
A judge has ordered timeshare company Ultiqa Lifestyle Promotions to pay a $900,000 penalty for cornering consumers into investing thousands in a timeshare scheme that many could not afford.
ASIC issues stop orders on Holon crypto funds pitched to retail investors
Please login to bookmark Close
The corporate regulator has placed interim stop orders on three crypto funds distributed by Holon Investments Australia Limited, citing the need to protect investors from sinking money into funds that may be too risky and speculative.
High Court won’t hear appeals in COVID-19 business interruption test cases
Please login to bookmark Close
An appeals court’s “radical” approach in the treatment of JobKeeper payments won’t be scrutinised by the High Court, which on Friday declined to hear an appeal by IAG in the second set of COVID-19 business interruption test cases.
NAB defeats unconscionable conduct case by vehicle finance brokerage
Please login to bookmark Close
A judge has tossed a broker’s lawsuit against NAB and its former subsidiary FAST, finding the bank was entitled to terminate its accreditation over the use of a banned broker’s trail book.
ANZ close to settling class action over ‘junk’ add-on insurance
Please login to bookmark Close
Insurer QBE has settled a class action over ANZ’s sale of allegedly worthless add-on insurance, and the applicants are “hopeful” that the bank and two other named insurers will soon reach a deal to resolve the claims against them.
Austal hit with $700,000 penalty over $3.5B US Navy program disclosures
Please login to bookmark Close
Defence shipbuilder Austal and its CEO have agreed to pay a combined $700,000 in penalties for violating the Corporations Act by failing to notify the market of a US$90 million writeback related to the company’s $3.5 billion US Navy warship program.