A judge has ordered 17 companies connected to Mayfair’s “failed” IPO Wealth Fund to be wound up after finding the fund’s director put investor money at risk through “highly speculative” investments to make a windfall for himself.
Three former Macquarie Bank financial advisors who claim the bank underpaid them have successfully appealed a decision ordering them to hand over personal tax assessments, with an appeals court finding that the most the bank could make of the documents was to “inflict a degree of embarrassment” on its ex-employees.
Commonwealth Bank of Australia has resolved a lawsuit brought by a former general manager alleging he lost his job for blowing the whistle on a system allegedly used by staff to inflate their bonuses.
A former general manager suing law firm Atanaskovic Hartnell has amended her pleadings as trial in her case resumes Friday, expanding her claims and including details of an email in which the firm’s managing partner allegedly slammed her practice of billing clients on a “menstrual based cycle”.
A public sector lawyer has failed to persuade the Fair Work Commission that he was eligible for progression pay rises despite his suspension for alleged misconduct that included repeatedly requesting that a colleague accept his friendship request on Facebook.
Companies associated with Mayfair’s IPO Wealth Fund should be wound up because they contained assets “artificially inflated” in value and ran what was effectively a Ponzi scheme, the Victoria Supreme Court has heard.
A judge has given the green light for the applicants in the Robodebt class action to file an amended statement of claim on the eve of trial that adds a claim for exemplary damages and drags five government employees into the proceedings.
AUSTRAC has slugged US financial services giant State Street Bank and Trust Company with a $1.24 million fine for failing to report international funds transfers in breach of anti-money laundering and counter-terrorism laws.
Common fund orders are again under scrutiny in a class action which was at the centre of the High Court’s decision to strike down the orders, with a NSW Supreme Court judge sending back to the appeals court the question of whether the orders can be made at settlement.
A second class action has been launched against the Andrews Government over stage four restrictions imposed on Victorians, alleging failures to manage the state’s hotel quarantine program were directly to blame for the second wave of COVID-19 cases.
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