NAB unit NULIS Nominees was not only allowed to charge superannuation fund members fees for adviser commissions, it was “obliged” to do so, a court has heard during a class action trial over alleged conflicted remuneration.Â
NAB unit NULIS Nominees was âhopelessly conflictedâ in continuing to charge allegedly unlawful adviser commissions to superannuation fund members, a court has heard on the first day of a class action trial.
Class action settlement sums reached new highs last year, with the ten largest agreements totalling almost $1 billion, almost half of which was secured by one plaintiff law firm.
Avant Insurance has lost its bid to challenge a ruling which put it on the hook for indemnifying a plastic surgeon in class action proceedings over allegedly botched breast augmentations at a defunct NSW clinic.
A judge overseeing a class action against a unit of Suncorp Group has given his blessing to a settlement that will see only $14 million of its headline $33 million figure go to super members, despite finding the modest return was âfar short of the maximum potential recoveryâ in the case.
The settlement figure in a class action against a unit of Suncorp Group has been revealed as $33 million, and super members are set to share in the net sum of $14 million, or 42.5 per cent of the deal.
A unit of Suncorp Group has reached an in-principle settlement in a class action over alleged conflicted remuneration on the first day of an expected 25-day trial.
An appeals court has found that Avant Insurance must indemnify a plastic surgeon for his legal bills and the claims of all relevant group members in a class action over alleged botched breast augmentations.
A group of banks that failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse have been ordered to pay indemnity costs after a court found they rejected $10 million settlement offers three days into the trial.
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.