The Federal Court has slapped non-bank lender Firstmac with an $8 million penalty, the second doled out in ASIC proceedings for violations of the new design and distribution obligations.
Real estate company Flemington Properties has won $5 million from Ausgrid in a commercial rent dispute, with a judge finding the state corporation was effectively asking the court to rewrite the partiesâ agreement.
A judge has delayed mediation in a suit alleging Westpac fired its former head of risk after complaints of alleged fraud at its RAMS unit.
A class action against online trading platform IG Markets over alleged risky contracts for difference may drop its conflicted remuneration claims after struggling to find a sample group member.
Law firm Gerard Malouf & Partners will move for a solicitors’ common fund order in a class action against Philips Electronics, which will give it an effective contingency fee in the event of a win or settlement.
An appeals court has overturned a $16 million judgment against a law firm, finding it did not breach its duties when acting for a lender that provided financing to a client.
A class action over S&Pâs rosy ratings on risky financial products faces a preliminary fight over the relevance of expert evidence that seeks to prove fraud on the part of the ratings agency.
Insurers have won a challenge to a declaration that engineering firm CIMIC could make claims under policies for costs arising from corruption cases, including a $32 million class action settlement.
McDonaldâs has raised concerns about a âskewedâ sample of employees for the initial trial in a class action alleging the fast food giant denied shift managers compensation for pre- and post-shift work.
In a win for ASIC, the Federal Court has found that non-bank lender Firstmac Limited breached the design and distribution obligations, introduced in 2021, by marketing a managed investment scheme that could be unsuitable for customersâ financial needs.Â