A judge has tossed a brokerās lawsuit against NAB and its former subsidiary FAST, finding the bank was entitled to terminate its accreditation over the use of a banned brokerās trail book.
Insurer QBE has settled a class action over ANZ’s sale of allegedly worthless add-on insurance, and the applicants are āhopefulā that the bank and two other named insurers will soon reach a deal to resolve the claims against them.
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.
A judge weighing a $29.5 million settlement in a class action against recycling company Sims Limited has questioned the courtās 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.
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.
A class action over AMP’s fees for no service practice wants communications with law firm Clayton Utz that led up to a report that allegedly went through 25 rounds of edits with the wealth manager’s inhouse lawyers before being presented to the corporate regulator as independent.
Investors in Mayfair Groupās collapsed IPO Wealth Fund have clawed back only a fraction of their alleged $67 million losses after a judge approved a settlement in a class action alleging the fundās trustee misled unit holders.
The founder of beleaguered investment group Mayfair 101, James Mawhinney, has asked the High Court to overturn his own successful Full Court appeal of a decision that saw him banned from soliciting funds or promoting any financial product for 20 years.
A $13 million commission sought by the funder that bankrolled the Opal Tower class action is stalling settlement approval, as debate continues over whether the funder can recoup the costs of after-the-event insurance from group members.
Fox News CEO Lachlan Murdoch has told a court that Crikey publisher Private Media will be hard-pressed to use a new public interest defence as a shield against his defamation suit over an article allegedly linking the media mogul to the January 6 attack on the US Capital.