Ashurst notified Australia and New Zealand Banking Group almost a decade ago about issues relating to its illegal fees, ASIC has told the Federal Court as it fights for documents from the law firm.
Investment group Mayfair 101 has denied claims by ASIC that it has engaged in misleading or deceptive advertising of its Platinum products, saying in a response to the regulator’s case the products were aimed at sophisticated investors who were told of the risks.
ASIC has launched a bid to gain access to legal advice provided by Ashurst to Australia and New Zealand Banking Group in the regulator’s case over $35 million in allegedly illegal bank fees.
The Federal Court has granted ASIC a legal win against Bendigo and Adelaide Bank, finding that its small business loan contracts were unfair and created a “significant imbalance” that was likely to detriment customers.
Slater and Gordon’s conduct when settling a previous securities class action against it armed the lead plaintiff with the information he needed to later bring a class action against Arnold Bloch Leibler, a court has heard.
Arnold Bloch Leibler has been granted access to due diligence docs related to Slater and Gordon’s $1.2 billion acquisition of professional services firm Quindell, to use in its defence of a class action over advice it gave on the troubled acquisition.
The ACCC has come up short in its appeal of a ruling that dismissed its challenge to Pacific National $205 million acquisition of Aurizon’s Acacia Ridge Terminal in Queensland, with the Full Federal Court also releasing Pacific National from an undertaking given to the court.
A judge has issued a temporary injunction limiting how Mayfair 101 can promote two of its investment products, in proceedings brought by ASIC accusing the investment firm of misleading and deceptive advertising.
The lead applicants in two class actions against 7-Eleven are considering bringing a contempt of court motion against the convenience store giant after the Full Federal Court derailed their challenge to prior orders allowing the company to seek litigation releases from franchisees.
ANZ has rejected allegations by the financial regulator that $35 million in fees charged to customers for periodical payments between accounts was unlawful, saying the regulator’s case extended the scope of false and misleading representation claims.