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In win for ASIC, court finds rent-to-own leases were credit agreements
Competition & Consumer Protection 2024-09-04 11:16 pm By Andy Sidler

A court has held that a “nuanced” business model used by a rental company providing long-term leases to often vulnerable consumer for household items breached the Credit Act, finding the loan agreements were in substance credit contracts. Federal Court Justice Lisa Hespe found on Wednesday that Rent4Keeps attempted to avoid being caught by the Credit…

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Advisory firm Lanterne cops $1.25M penalty for ‘effectively ignoring’ AFSL obligations
Financial Services 2024-04-11 11:48 pm By Andy Sidler

Advisory firm Lanterne Fund, which operated as a ‘licensee for hire’, has been hit with a $1.25 million penalty for breaching its obligations as a financial services licence holder.

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‘So what?’ Judge says rate-rigging class action can’t impose views on registration
Class Actions 2024-02-27 9:58 pm By Cat Fredenburgh

A judge has ordered soft class closure ahead of mediation in a class action against five major banks over alleged foreign exchange rate-rigging, saying the applicant’s subjective view on what will assist mediation should not be imposed on the banks.

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‘Don’t you want to know who you’re acting for?’: Judge probes applicant in rate-rigging class action
Class Actions 2024-02-26 4:33 pm By Sam Matthews

A judge has questioned the applicant’s opposition to soft class closure in a class action accusing five major banks of rate-rigging, a measure the banks say could save “tens of millions” in legal expenses. 

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Slater & Gordon cedes Medibank class action to Baker McKenzie
Class Actions 2023-08-01 10:11 pm By Sam Matthews

Slater and Gordon has agreed to consolidate its data breach class action against Medibank with one brought by Baker McKenzie, after the judge overseeing the cases railed against competing class actions.

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Are the courts really plagued by duplicative class actions?
Analysis 2023-05-15 12:39 pm By Christine Caulfield

A fed-up judge has vented his frustration with the problem of competing class actions in a move that appears to punish the second filed case against Medibank. But is he right that the courts are increasingly being asked to deal with duplicative proceedings? And was his order really all that drastic?

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‘Plagued with competing class actions’: Judge stays latecomer Medibank case for now
Class Actions 2023-05-12 1:26 pm By Sam Matthews

A judge aggrieved by the “plague” of competing class actions in the courts has temporarily stayed a second data breach class action against Medibank, and directed the health insurer to ask the privacy commissioner to drop the investigation of a third case.

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In first beauty parade of its kind, law firms compete to manage $300M J&J settlement
Class Actions 2023-02-16 10:43 pm By Cindy Cameronne

Sixteen law firms and accounting firms have thrown their hat in the ring to administer a $300 million settlement in two class actions against Johnson & Johnson over pelvic mesh devices that injured thousands of women.

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Rejected costs report in Woolworths class action got proportionality wrong, judge says
Class Actions 2023-01-10 11:02 pm By Sam Matthews

A costs report in a settled class action against Woolworths that recommended almost $800,000 in legal fee deductions failed to wrestle with a key factor in weighing the proportionality of the costs, a judge has said.

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Judge slashes law firm’s uplift in Box Hill Institute class action
Class Actions 2022-11-30 11:18 pm By Cat Fredenburgh

A judge has approved a $33 million settlement in a class action against vocational education provider Box Hill Institute, but taken the ax to a law firm’s proposed 18.25 per cent loading on its fees, saying courts shouldn’t approve uplifts for run of the mill legal work.

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