A self-represented customer of Latitude Financial has lost his bid to challenge a decision throwing out his data breach lawsuit against the non-bank lender after he defaulted on court orders.
The co-owners of Pacific Werribee shopping centre in Victoria have won their bid for a preliminary trial in a suit against Probuild Constructions and several engineering companies over $200 million in alleged structural defects.
A judge has ordered soft class closure ahead of mediation in a class action against five major banks over alleged foreign exchange rate-rigging, saying the applicant’s subjective view on what will assist mediation should not be imposed on the banks.
A judge has questioned the applicantās opposition to soft class closure in a class action accusing five major banks of rate-rigging, a measure the banks say could save ātens of millionsā in legal expenses.Ā
Citibank has argued group members should be asked to sign on to a class action accusing five major banks of entering a cartel agreement to rig foreign exchange rates before evidence is filed in the case, saying it was impossible to know how much the claims were worth.Ā
ASIC has lost its challenge to findings that a revenue sharing arrangement between the Commonwealth Bank of Australia and former subsidiary Colonial First State Investments did not breach conflicted remuneration provisions of the Corporations Act.
ANZ’s $47 million settlement of a class action over its consumer credit insurance has been given the nod by a judge, who has also approved recovery of the cost of after-the-event insurance held by the law firm running the case.
The Commonwealth Bank of Australia has urged the Full Court to toss ASIC’s challenge to a decision dismissing its conflicted remuneration case over the bankās sale of its Essential Super product, saying the appeal suffered from āfatalā flaws.
The Australian Securities and Investments Commission has filed an appeal after a judge dismissed its case alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, finding it was āmisconceivedā.
The Australian Securities and Investments Commission has suffered a defeat in proceedings alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, with a judge finding the regulator “ignored the circumstances” in which the product was distributed.