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Firm’s contingency fee re-do wins over judge in class actions against banks
Class Actions 2023-03-03 5:50 pm By Cindy Cameronne

A law firm has won its second bid for a group costs order in three class actions against banks over flexible commission schemes after a judge in 2021 rejected what was then the first-ever application for a contingency fee.

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Law firm shaves 0.5% off payout in second go at class action contingency fee
Class Actions 2023-02-23 5:11 pm By Cindy Cameronne

Maurice Blackburn has had a second crack at a group costs order in three class actions against banks over alleged flexible commission schemes after a judge in 2021 rejected what was then the first-ever application for a contingency fee.

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Macquarie advisers stripped of $330,000 win as 5-year-old case sent back
Financial Services 2023-02-17 4:56 pm By Sam Matthews

Dozens of Macquarie advisers who previously won a $330,000 payday against the bank have been ordered back to court for a rehearing of their long-running case over employment entitlements.

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Macquarie not to blame for $2.9M theft by adviser, court told
Financial Services 2022-06-23 9:02 pm By Sam Matthews

Macquarie Bank has denied liability for a financial adviserā€™s theft of $2.9 million in customer funds, which the Australian Securities and Investments Commission alleged was caused by the bankā€™s failure to monitor third-party withdrawals.

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Nuix says ex-CEO’s claim off by $140M, but Macquarie director must front court to explain
Securities 2022-06-06 4:20 pm By Cindy Cameronne

A former Nuix director appointed by Macquarie Bank must give evidence in person as the embattled tech company argues a claim brought by its former CEO is off by $140 million.

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Claims against Macquarie Leasing dropped in ANZ flex commissions class action
Class Actions 2022-06-06 12:26 pm By Sam Matthews

Macquarie Leasing has been let off the hook in a class action alleging that a flex commissions scheme by ANZā€™s former car finance business encouraged dealers to set car loan rates far in excess of base rates in exchange for large kickbacks.

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Macquarie plays blame game with car dealers in flex commissions class action
Class Actions 2022-04-21 5:33 pm By Sam Matthews

Macquarie Leasing has hit back at a class action over alleged unfair flex commission arrangements with car dealers, saying dealers were not required to propose high interest rates as part of the scheme and that customers were not forced to accept them.

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ASIC takes Macquarie to court after adviser’s $2.9M theft
Financial Services 2022-04-05 1:57 pm By Cat Fredenburgh

The corporate regulator has filed court proceedings against Macquarie Bank alleging it failed to monitor third-party withdrawals, leading to a financial adviser’s theft of $2.9 million in customer funds.

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Lauded King & Wood Mallesons managing partner appointed Macquarie GC
Financial Services 2021-10-29 3:26 pm By Bianca Hrovat

The Australian managing partner of King & Wood Mallesons, Evie Bruce, is set to join Macquarie Group as its next group general counsel and head of the legal and governance group, where she will lead a team of 400 lawyers and governance professionals.

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PwC can’t shut down class action against over $50M bond prospectus
Accounting 2021-08-09 8:57 pm By Cindy Cameronne

PricewaterhouseCoopers has lost its bid to shut down a class action launched by bondholders of collapsed asset finance lender Axsesstoday Limited over alleged misrepresentations in a $50 million bond offer.

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