Lawyers for two competing class actions against the Commonwealth Bank of Australia over breaches of anti-money laundering laws say the cases can happily co-exist, but whether the court will agree may well depend on the outcome of a closely-watched appeal in a separate battle over multiple proceedings.
A judge has denied ASIC’s bid to appoint an interim receiver to preserve the assets of three financial services companies that advised clients to invest in complex derivatives, which ASIC is seeking to have wound up for alleged violations of the Corporations Act.
The amicus hired to assess the funder’s cut of a potentially record settlement in several class actions against S&P Global over toxic financial products has told the judge that if he’s considering approving a funding equalisation order, he should “start with a blank piece of paper” in calculating a reasonable funder’s commission.
The judge weighing a record settlement in multiple class actions against S&P Global over toxic financial products said Tuesday there was “no way” he would sign off on the deal while it stipulated that all funds be returned to the ratings agency in the event the settlement amount is disclosed.
Entertainment industry titans Sony Music Entertainment, Universal Music and Warner Music have joined an appeal to the Full Federal Court challenging a licence granted by the Copyright Tribunal of Australia to Foxtel for the rights to certain yet-to-be-broadcast content and streaming rights.
An invention that simply puts “a business method or scheme into a computer” is not patentable, the Commissioner of Patents told a court Wednesday on the first day of a highly anticipated trial over a rejected software patent application by marketing tech startup Rokt.
Gaming giant Aristocrat Technologies is seeking damages in the “high tens of millions of dollars” from rival Konami Australia, after the poker machine developer was found liable for patent infringement.
Electricity company Western Power was to blame for the January 2014 inferno that destroyed 57 homes in and around Parkerville, Western Australia, a lawyer told the state’s Supreme Court at the start of trial Monday on behalf of residents and property owners.
The firm running the class action against Fitch Ratings over SCDO products has been given the go ahead to add claims of fraud and deceit after lawyers allegedly unearthed a hidden mathematical table the agency used in assigning ratings to the toxic financial products.
The law firm behind one of four AMP class actions in Federal Court might call for an anti-anti-suit injunction in response to a threat by a NSW Supreme Court judge to block the actions from proceeding in favour of the lone case filed against the wealth manager in state court.