AMP has appealed its loss in a class action over changes to its buyer of last resort policy, under which the wealth manager slashed the amount it would pay financial advisers for their books of business.
A judge has order ACBF Funeral Plans to pay $1.2 million for misleading its First Nations customers, a penalty less than one-fifth the fine sought by ASIC.
The lead applicant in a class action against AMP Financial Planning on behalf of 542 advisers has won $813,000 in damages after a judge found it could not retreat from a promise to buy back adviser businesses at four times their revenue.
ASIC is seeking $7.5 million in penalties against failed ACBF Funeral Plans and parent company Youpla Group for misrepresenting to customers that it was Indigenous-owned and falsely claiming that its products were specifically beneficial to First Nations people.
A joint court application by ASIC and NSW Fair Trading calls for special purpose liquidators to claw back money from funeral insurer Youpla over concerns about the current liquidator’s relationship with the failed company’s former lawyer.
A judge has given ASIC the green light to continue proceedings against a defunct funeral insurer which allegedly misled Aboriginal customers about being Indigenous-owned and claims that its products were specifically beneficial for First Nations people.
A judge has given his approval to the takeover of Crown Resorts by US private equity group Blackstone.
Advice from non-lawyers and “routed” through a legal practitioner at multidisciplinary partnership PricewaterhouseCoopers cannot be shielded under legal professional privilege, the Federal Court has found.
A judge has rejected the Australian Taxation Office’s claim that legal professional privilege does not apply to any communications between PricewaterhouseCoopers and its client, meat processor JBS, but has found that many of the reviewed documents do not satisfy the test of privilege.
A judge will approve a $28 million settlement resolving a class action against Arnold Bloch Leibler over advice the law firm gave to Slater & Gordon ahead of a disastrous acquisition. A 28 per cent commission for the case’s funder will also get the court’s nod.