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A former financial planner of IOOF unit RI Advice, who has been accused by ASIC of pocketing hefty commissions from clients steered to risky investments, has abandoned his defence on the second day of trial.
Judge says separate questions are ‘fraught’ but allows hearing in Pizzeys client poaching dispute
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A judge has allowed a hearing on separate questions concerning the validity of a non-compete agreement in a lawsuit brought against two patent lawyers who jumped ship by boutique IP firm Pizzeys Patent and Trade Mark Attorneys, despite expressing concerns that “separate questions are fraught”.
Court finds Megasave made misleading representations to franchisees
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A court has found national delivery company Megasave Couriers misled franchisees with false promises of guaranteed minimum weekly payments and annual income.
Fair trial may not be possible for adviser targeted by ASIC in IOOF unit case, court told
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A financial adviser at the centre of ASIC’s bad advice case against an IOOF unit might mount an argument that a fair trial is not possible because of his “fulsome” answers to investigators during a compulsory examination.
Partner in age discrimination suit says Deloitte acting like he’s out the door
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A partner who hit Deloitte with a $3.8 million age discrimination lawsuit says the accounting giant has been treating him as an “inactive partner” who is on the verge of retiring, including by failing to conduct a performance assessment for the 2021 financial year.
Former QC, now judge liable to client in negligent advice case, court rules
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A former QC turned Victorian Supreme Court judge has been found liable, along with a law firm acquired by Russell Kennedy, to pay $1.185 million to a former client for providing negligent advice on a land purchase contract.
CBA broker subsidiaries admit ‘systemic compliance failures’ as ASIC launches new case
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ASIC has launched court action against two Commonwealth Bank of Australia subsidiaries that have admitted multiple “systemic compliance failures”, including the overcharging of more than $4.3 million in brokerage fees.
In ‘warfare’ with Sino Iron, judge tosses Clive Palmer’s fight over $530M in mine remediation costs
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Clive Palmer’s Mineralogy has lost its bid to make Sino Iron and Korean Steel cough up over $529 million for mine site remediation in Western Australia, after the mining company argued the terms of their contracts required an immediate lump sum payment.
Arrium ‘bled cash’ from banks prior to $2.8B collapse, court told
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Directors of steel producer Arrium continued to borrow money from “vulnerable” lenders in the months prior to the company’s $2.8 billion collapse and “bled cash” despite the inevitable end, a number of lenders have said on the first day of a 40-day trial in the NSW Supreme Court.
Gatto loses defamation case over ABC report on alleged threat to kill Gobbo
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Melbourne underworld figure Mick Gatto was not defamed by an online ABC article reporting on witness evidence given in court alleging he helped arrange the murder of Victor Pierce and threatened to kill barrister Nicola Gobbo, a judge has ruled.