ANZ

The law firm running a class action against ANZ and superannuation trustee OnePath wants a 29.4 per cent cut of the $50 million settlement, having run the case on a no win, no fee basis. 

A class action against ANZ over alleged predatory lending practices has settled for $85 million, while two related cases against Westpac and Macquarie are set to go to trial this month.  

Big Four bank ANZ and superannuation trustee OnePath will pay $50 million to settle a class action brought on behalf of super members allegedly charged excessive fees.

A settlement has been reached on the eve of trial in a class action against ANZ and OnePath alleging they slugged super fund members with excessive fees.

The law firm running class actions against ANZ and Westpac has been pulled up for claiming confidentiality over a solicitor’s affidavits on the costs incurred by the applicants since the court approved settlements in the cases.

An ANZ employee has lost her application in the Fair Work Commission to work from home full time on the basis that she is over 55 years old, with a commissioner saying there was no “rational connection” between her age and the request. 

Banks targeted in long-running class actions over flexible commission schemes for car dealers are resisting the plaintiffs’ bid to amend their pleadings to “get around” the defence that certain claims are time-barred.

ANZ has confirmed that senior executives could face consequences in an investigation led by Herbert Smith Freehills and Allens regarding concerns that it manipulated government bond sales last year. 

The ex-chair of former ANZ unit OnePath “has not been cooperating” in a class action alleging it breached its duties as a trustee of superannuation funds by slugging members with excessive fees to pay commissions to financial advisers, a court has heard. 

A New Zealand appeals court has ruled that common fund orders can be made in class actions, even at the early stages, departing from the High Court of Australia in finding the commercial viability of a proceeding enhances access to justice.