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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
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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
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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.
Woolworths says 2.2M customers affected by MyDeal data breach
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Woolworths unit MyDeal has begun contacting 2.2 million customers whose data has been compromised in the latest data breach to hit a major Australian company.
Court sides with Deicorp in $90M suit over sale of properties in Sydney’s Castle Hill
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Property developer Deicorp has secured a win in a lawsuit brought by a Hong Kong real estate billionaire after Deicorp reneged on a $45 million property deal, with a judge finding the purchaser failed to properly nominate its special purpose vehicle under the contract for sale.
Network Ten stiffed Brisbane GM out of $330,000 in bonuses, lawsuit claims
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Ten’s general manager, Brisbane has filed a lawsuit alleging the media company owes her $330,000 in bonuses.
Retail Food Group files bid to quash franchisee class action
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Retail Food Group has filed an application to shut down a class action by former franchisees of its Michel’s Patisserie chain who claim to have suffered losses stemming from changes to the franchise giant’s supply chain in 2015 and 2016.
Judge doubts power to vary Sims class action funding agreement
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A judge weighing a $29.5 million settlement in a class action against recycling company Sims Limited has questioned the court’s power to vary the funding agreement between the applicant and funder, which seeks to pass on its insurance costs to group members as well as recoup costs and earn a commission.
Box Hill Institute to pay $33M to settle class action by students
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Vocational education provider Box Hill Institute has agreed to pay $33 million to settle a class action by students who allege the diploma they obtained through the institute did not give them the knowledge or training needed to obtain a commercial pilot’s licence.
Hillsong ordered to file overdue defence in whistleblower suit alleging financial misconduct
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A judge has ordered Hillsong to file its defence to a lawsuit alleging extensive financial misconduct by the megachurch, including that it funnelled donations through US bank accounts to skirt Australian charity regulations.