A judge has dismissed a lawsuit brought over a development in Melbourne’s north, citing “inordinate and inexcusable delay” on behalf of the collapsed developer and its builder, which replaced its solicitors seven times.
A judge has ordered MLC to pay $10 million for its “serious failure” to pay life insurance benefits to customers undergoing rehabilitation, in an ASIC case that also alleged the insurer failed to promptly update medical terms in policies.
MLC has agreed to cop a $10 million penalty for admitted breaches of the Corporations Act in an ASIC case that alleged the insurer failed to promptly update medical terms in policies and withheld payment of a life insurance benefit.
Wealth manager MLC Limited has admitted to violating the Corporations Act by failing to send overdue notices to policyholders over a 15-year period, but will defend the bulk of ASIC’s claims in proceedings accusing it of causing $17.5 million in harm to over a quarter of a million consumers.
Three law firms and a consultancy are fighting a bid by defunct financial advisor Dover Financial to bring negligence claims against two lawyers over a so-called client protection policy found to be “an exercise in Orwellian doublespeak”.
Two law firms accused of providing negligent advice to Dover Financial over a so-called client protection policy found to be “highly misleading” have argued the defunct financial advisor should not be able to recover the $1.2 million penalty it was ordered to pay.
A judge has extended an injunction barring a former manager of non-bank lender Liberty Financial from working for a unit of Wingate Group until after trial in a case over a restraint clause in the executive’s contract.
A judge has issued a temporary injunction barring a former manager from non-bank lender Liberty Financial from moving over to a unit of the Wingate Group, after hearing the company was “start-up facsimile” of Liberty which aimed to become a competitor in the future.
A judge has pressed a barrister on why he’s representing a former manager from non-bank lender Liberty Financial in proceedings seeking to bar him from jumping ship to startup ORDE Financial in addition to representing ORDE and its parent company, calling it an “unusual” arrangement.
Two more law firms have been joined to a lawsuit by defunct financial advisor Dover Financial accusing three law firms of providing negligent advice regarding an inaptly titled client protection policy which a judge found was “highly misleading” and “an exercise in Orwellian doublespeak”.