A court has found Qoin cryptocurrency issuer BPS Financial made false and misleading claims about its product, in a win for the corporate regulator and a likely boost for a class action against the Gold Coast-based digital currency company.
A judge has rejected an application by training provider Captain Cook College to postpone the hearing of its appeal in a case won by the ACCC, saying the company’s inability to fund the appeal was “largely a problem of [its] own making.”
Oil and gas producer Santos has successfully challenged the summary dismissal of its claim for recovery of more than $470 million paid to contractor Fluor Corporation in overhead costs incurred after the estimated completion date of gas hubs in the Surat Basin.
Motivated by greed, online educator Captain Cook College engaged in a system of unconscionable conduct by enrolling thousands of students who accrued $60 million in debt but never finished their courses, a court has found.
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.
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.
The Australian Securities and Investments Commission is planning to sue ANZ over $35 million in allegedly illegal customer fees, which were also at the centre of two class actions settlements reached last year under which customers are expected to walk away with no more than $100 apiece.
Vocational education provider Captain Cook College has panned the ACCC for delaying its recently filed case against the college by failing to prepare a statement of claim, despite already publicising the proceedings.