An appeals court has overturned a finding that food company Noumi waived privilege over a PwC report commissioned by Ashurst, which it produced to ASIC under voluntary disclosure.
A judge has approved a $57.5 million settlement in a class action against ANZ over credit card interest, including allowing the funder to recoup $1.2 million in after-the-event insurance costs.
Energy provider AGL has been slapped with a $25 million penalty after it continued to deduct payments from around 500 welfare recipients after they had closed their accounts.
The judge hearing ASIC’s case against super fund Cbus has criticised the practice of exchanging concise statements and responses, saying it was a “false economy” of time and cost savings.
The Australian operator of crypto exchange Kraken has been ordered to pay $8 million for failing to comply with design and distribution obligations.
On appeal of a $6 million judgment for misleading statements, Dominique Grubisa and her wealth education company DG Institute have argued her advice was based on faulty knowledge, not ill intentions.
In the second test of the new design and distribution obligations under the Corporations Act, ASIC is seeking a $20 million penalty against the provider of the Kraken crypto exchange.
ASIC wants the Full Court to overturn a finding that Noumi waived privilege over a PwC report produced under a voluntary disclosure regime, arguing the regime benefits the public in making investigations more efficient.
The former CFO of Noumi has been hit with a $100,000 penalty and four-year ban for his involvement in the company’s continuous disclosure breaches, which a judge heard caused him to drink a bottle of wine every night.
The court has rejected Mastercard’s bid to appeal an evidentiary win for the ACCC in the regulator’s misuse of market power case against the payments giant.