Ergon Energy is challenging a notice from the energy regulator in its probe of payments received via a Centrelink direct debit scheme, after AGL was fined $25 million for overcharging welfare recipients.
Class action settlements leaped in value last year, with three settlements topping the $200 million mark.
The Full Court has rejected wealth guru Dominique Grubisa’s argument that a judge who slapped her and her company with a $6 million penalty wrongly confused the ordinary consumer with “the most ignorant”.
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.