Class Actions
Suit against Banksia receiver, law firm a bid to ‘exhume case from grave’, court told
The receiver for Banksia Securities — the failed lender at the centre of a scandal-ridden class action — has argued a new case accusing him of serious misconduct is vexatious and wants a court to release him from the claims.
Class Actions
Judge questions claim Banksia receiver ‘went along’ with class action settlement
A judge has questioned whether an investor in failed Banksia Securities can bring a case against a court-appointed receiver over his support for a class action settlement later found to involve deception by a team of lawyers.
Competition & Consumer Protection
Telstra agrees to $18M penalty in ACCC case over Belong speeds
Telstra has been ordered to pay $18 million in ACCC proceedings, after a court found the telco misled thousands of broadband customers about the speed of its budget internet provider Belong.
ASIC
ASIC sues Fiducian Group over ESG representations
Looking to continue its hot streak of successful anti-greenwashing cases, the corporate regulator has taken Fiducian Investment Management to court over allegedly misleading representations about its ESG fund.
Employment
In EY case, judge denies referral threat directed at Alvarez & Marsal barrister
A judge has clarified a warning he made to refer lawyers for Alvarez & Marsal to the legal watchdog after hearing of the hefty costs of complying with discovery orders won by rival EY, saying the threat wasn't directed at counsel.
Competition & Consumer Protection
Mayfield warns ruling in NSW Ports case could have ‘startling’ consequences
Mayfield Developments has argued the High Court should overturn a finding that NSW Ports was protected by derivative Crown immunity in entering allegedly uncompetitive agreements to privatise two ports, saying the decision could have “startling” consequences such as allowing the state to devise cartel arrangements.
Class Actions
Defeat device class action can warn Isuzu owners about selling cars
A judge has allowed a class action over Isuzus that allegedly contained emissions cheat devices to send an opt out notice to group members that includes a warning that if they sell their cars, they may “lose some or all of the money” they could receive in any settlement.
Privacy & Cybersecurity
Qantas wins injunction against hackers over data breach
Qantas has won a permanent injunction aimed at preventing unknown hackers from disseminating information accessed in a June data breach, with a judge saying the orders have “real utility” despite the hackers being beyond the reach of the court.
Accounting
Hall Chadwick NSW failed to prevent auditor rotation breaches: ASIC
The Australian Securities and Investments Commission has accepted court-enforceable undertakings from Hall Chadwick NSW and three of its auditors after finding the firm’s systems failed to detect breaches of auditor rotation requirements.
Business of Law
Baker McKenzie strengthens private equity team with new Sydney hire
Baker McKenzie has appointed a new special counsel to join the law firm's private equity practice group in its Sydney office.
