Most Recent
A judge has expressed hesitation about a $750,000 penalty proposed by the Australian Securities and Investments Commission in its misleading advertisement case against $5.15 billion credit fund La Trobe Financial Asset Management, calling the amount “very, very modest”.
Shareholders of the collapsed Babcock & Brown have failed in their challenge to a ruling tossing their cases for damages for disclosure breaches during the global financial crisis, with an appeals court finding the investors had not shown the breaches caused any loss.
A judge has questioned why a class action against Aveo Group has “stalled” after tossing the retirement home provider’s bid to determine group members’ loss in a preliminary hearing, saying the questions in the case could not be “neatly separated”.
ASIC has agreed to provide Westpac with the transcript of a compulsory examination of one of its traders in court proceedings accusing the bank of insider trading in relation to the $16 billion privatisation of electricity provider Ausgrid.
Retirement home provider Aveo Group, which is facing a class action by residents, wants a court to determine group members' loss in a preliminary hearing, but a judge has questioned whether he is barred from deciding the "hypothetical" question.
A judge has dismissed two cases brought by the Commonwealth Bank, Westpac and other lenders against directors of the failed steel giant Arrium, saying he was not satisfied the directors' representations on loan drawdown notices were false or that the company was insolvent when it went into voluntary administration in April 2016.
The Australian Securities and Investments Commission has won its case against IOOF unit RI Advice, with a judge finding the financial services firm failed to ensure its advisers acted in the best interests of clients and did not give inappropriate advice.
ASIC’s case accusing Westpac of insider trading before the $16 billion privatisation of electricity provider Ausgrid should be heard “as quickly as the court can deal with it”, a judge has said.
A settlement reached in a lawsuit by the liquidators of collapsed steel giant Arrium against 10 former company directors accused of insolvent trading has been approved by a judge, who noted that while the settlement amount was "substantial", the deal involved a "substantial compromise".
Industry super funds AustralianSuper and IFM Investors - the consortium behind the interest rate swap at the centre of the corporate watchdog's insider trading case against Westpac -- have asked a judge to shield commercially sensitive information from the public as the high-profile action unfolds.