Jeremy Giles

The Australian provider of the Kraken crypto exchange has told a court that its margin trading product is not a credit facility, rejecting the corporate regulator’s “overly broad” definition of the word ‘credit’. 

A class action on behalf of Axsesstoday bondholders has reached a settlement with accountants PricewaterhouseCoopers, with a court hearing that group members will get almost 50 per cent of the proceeds. 

ASIC has wasted no time in appealing a judge’s decision to excuse cryptocurrency product provider Block Earner from paying a civil penalty on the basis that it took advice from a leading law firm that was not seen by the court. 

A judge has excused cryptocurrency product provider Block Earner from paying a penalty in a case brought by ASIC, despite finding it provided a financial product without a licence, because it obtained legal advice and genuinely believed it was not breaching the law.

Equitable contribution by Western Power, Ventia and a property owner found jointly liable for the same loss resulting from the Parkerville bushfire in WA must be mathematically equal regardless of how the liability was apportioned, a judge has found.

The High Court has been asked to weigh in on whether a client needs to prove it could have exploited a lost commercial right in order to prevail in a law firm negligence case, after HWL Ebsworth successfully appealed a decision that found its bad advice over property in Parramatta’s ‘Auto Alley’ cost a client $2 million.

A judge has shut down a case by Icon against Australia’s nuclear agency over the $27 million construction of a waste treatment plant at Lucas Heights, saying the dispute should be determined by an arbitrator despite the parties waiving pre-arbitration steps.

The Australian Securities and Investments Commission is challenging a decision that Finder Wallet did not need a financial services licence to sell its defunct cryptocurrency product.

Law firm HWL Ebsworth has successfully appealed a decision finding that its negligent advice over property in Paramatta’s ‘Auto Alley’ cost a client $2 million, with an appeals court finding the commercial opportunity lost by the client had no value.

In a loss for the Australian Securities and Investments Commission, a judge has found that comparison website Finder did not need a financial services licence to sell its cryptocurrency product Finder Earn because it was not a financial product.