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NAB ordered to pay ‘woefully insufficient’ penalty in ASIC fee case
Financial Services 2023-09-22 10:02 am By Cindy Cameronne

A judge has ordered National Australia Bank to pay just one-fifth the $10 million penalty proposed by ASIC for overcharging customer fees, taking aim at the regulator’s concise pleading and saying the maximum penalty he could order was “woefully inadequate”.

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Judge won’t stay reference in ‘monumental’ Santos, Fluor litigation
Energy & Natural Resources 2023-04-19 10:48 pm By Sam Matthews

A judge won’t stay a reference process which US company Fluor claims is infected with bias, in a “monumental” dispute with energy giant Santos that has already generated a $57.5 million legal bill for the engineering firm.

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‘Banks aren’t perfect’: Judge tosses ASIC’s case against CBA over monthly account fees
Financial Services 2022-11-29 4:50 pm By Sam Matthews

ASIC has lost a case accusing the Commonwealth Bank of Australia of hitting customers with $55 million in unauthorised fees, with a judge finding that nearly 1 million customers charged the fees should have known that even banks “sometimes make mistakes”.

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ANZ cops $25M penalty for short-changing half a million Breakfree customers
Financial Services 2022-10-26 12:14 pm By Christine Caulfield

A judge has hit ANZ with a $25 million penalty in a case by the corporate regulator that alleged the bank short-changed hundreds of thousands of customers to the tune of $200 million.

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Investors lose joint appeal bid to boost slice of Halifax liquidation assets
Restructuring & Insolvency 2021-10-27 3:13 pm By Miklos Bolza

Investors in collapsed stockbroker Halifax Investment Services have failed to overturn decisions in Australia and New Zealand relating to the date of realisation of their investments which have decreased the amount they can recover in the company’s liquidation.

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Court throws out $106M judgment against Adani over Abbot Point fees
Energy & Natural Resources 2021-09-01 4:38 pm By Miklos Bolza

A subsidiary of Indian conglomerate Adani Group has successfully overturned a $106 million judgment against it over access charges for its Abbot Point coal terminal.

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Boral must pay $4.8M in cement supply stoush with Wagners
Construction 2021-04-27 2:21 pm By Christine Caulfield

Building products supplier Wagners has been awarded $4.8 million from Boral after Wagners successfully challenged a ruling in a high-stakes cement supply dispute with the construction material giant.

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Billionaire Brett Blundy defeats lawsuit by Honey Birdette co-founder
Corporate 2021-04-06 8:34 pm By Miklos Bolza

A former director of provocative lingerie retailer Honey Birdette has lost a lawsuit against billionaire retail entrepreneur Brett Blundy seeking damages after a relationship breakdown saw her bought out of the firm.

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Two law firms can’t rep insurers in $309M dispute over Queensland LNG project
Insurance 2021-03-09 2:16 pm By Miklos Bolza

A judge has found a group of insurers defending a $309 million lawsuit over an Australia Pacific LNG project in Central Queensland cannot be represented by two law firms, saying it would not be in the interests of justice.

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Wagners wins appeal in multi-million dollar cement supply dispute with Boral
Appeals 2021-01-19 6:08 pm By Miklos Bolza

Building products supplier Wagners has successfully challenged a Queensland Supreme Court judgment ruling in favour of Boral in a high-stakes cement supply dispute between the construction giants.

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