New lawsuit

In a case believed to be the first of its kind, the liquidators of boiler room trader Forex Capital Trading have sued ASIC, seeking to claw back over $20 million in fines and costs they says constituted unfair preference payments and should be distributed among the company’s out-of-pocket clients. 

The Australian Securities and Investments Commission has taken two units of Paladin Group and one of its directors to court for allegedly raising more than $100 million from 258 investors without a financial services licence.

Online broker International Capital Markets has been hit with a second class action for selling “excessively risky” derivative products known as contracts for difference to retail investors. 

Mercedes-Benz has been hit with a competing class action over alleged defeat devices designed to cheat on diesel emissions tests, over a year after the first class action was filed.

A former PricewaterhouseCoopers partner has sued the firm for denying him retirement payments for moving to alleged competitor DLA Piper and for his alleged involvement in the firm’s tax leaks crisis.

A former professional footy player has taken the Australian Football League to court, claiming it is liable for alleged racial vilification and abuse by a coach in 1997, just months after the league was hit with a class action accusing it of racism and discrimination.

A former client has sued Mills Oakley and a Victorian law firm alleging they were negligent while advising on a property transaction with his parents that did not go through. 

Kingfisher Mobile, which provides mobile services to Telstra customers, has taken the telecommunications giant to court for allegedly breached its contractual obligations when it engaged a new provider to take over from Kingfisher.

The Fair Work Ombudsman has brought proceedings against three United Petroleum-branded outlets in Tasmania and South Australia, alleging they underpaid migrant workers by more than $26,000. 

The Star is challenging a finding from the commissioner of taxation that the casino giant owes $5.3 million on payments made to junket operators, arguing the payments were not ‘payments for operating or promoting a junket’.