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The ACCC has ended its three-year investigation into Qantas Airways’ 19.9 per cent stake in ‘fly in fly out’ airline Alliance Aviation without enforcement action.
ASIC slaps wealth guru with four-year financial services ban
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Lawyer and wealth guru Dominique Grubisa has been banned from providing financial services and engaging in credit activity for four years, after ASIC found she embellished her qualifications and encouraged students to improperly use Family Court listings to identify investment opportunities.
$98M 7-Eleven class action settlement approved but costs, commission hang in the balance
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A judge has signed off on a $98 million settlement in two franchisee class actions against 7-Eleven, but has yet to reach a decision on $19.6 million in legal costs and a $25 million funding commission, which a court-appointed contradictor has urged him to reject.
Law firms accused of ‘fishing’ to expand class action against Treasury Wine Estates
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Maurice Blackburn and Slater & Gordon are “fishing for a case” against Treasury Wine Estates, a court has heard during a discovery fight in a consolidated shareholder class action against the Penfolds wine maker.
Tokio Marine goes on the offensive, accuses Greensill of fraud
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Collapsed supply chain finance company Greensill Capital has been accused of fraudulently obtaining policies from its largest insurer, Japan-based Tokio Marine, which has been dragged into four lawsuits over a trade credit policy issued in 2019.
Australian Grand Prix sued for $8.7M over cancelled 2020 Formula One concert
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The Australian Grand Prix Corporation has been sued by a UK entertainment company alleging the COVID-19 related cancellation of the 2020 Melbourne Formula One led to $8.7 million in losses after a related a concert featuring superstar Robbie Williams was also scrapped.
Major banks hit back at rate-rigging class action, argue claims are barred
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Five major banks including JPMorgan, Citibank and UBS have denied all wrongdoing in a class action accusing them of entering a cartel agreement to rig foreign exchange rates and argue the claims were brought out of time or are barred by settlements in overseas proceedings.
J&J won’t contest follow-on pelvic mesh class action
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An additional 1,200 women who were implanted with defective pelvic mesh devices will be eligible for compensation after Johnson & Johnson unit Ethicon agreed that findings in an earlier class action which it unsuccessfully fought all the way to the High Court should apply to a follow-on class action.
WSP to target another insurer over Opal Tower class action coverage after discovering $50M policy
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The structural engineer behind Sydney’s Opal Tower plans to drag insurer Tokio Marine into a lawsuit against two of Icon’s insurers, after discovering another $50 million policy that responds to claims in a class action brought by apartment owners.
ASIC did not threaten security firm with alleged links to bikie gang, court finds
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ASIC did not issue threats to a Sydney security company that was being investigated for links to outlaw bike gangs and defrauding the Commonwealth, according to a judge who found the corporate regulator legally terminated its contracts with the company.