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”.
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.
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”.
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.
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.
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.
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.
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.
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.
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.