Settlement

A judge has approved a $20 million settlement in a class action against NAB, despite initial concerns about the “moral hazard” of paying fees incurred by the applicant's former lawyers to prepare “sub-optimal pleadings”.

A judge is concerned that if he approves all payouts sought by lawyers and funders from a $13.5 million settlement in a class action against a Quintis director, group members will only he left with just 18 per cent. 

A judge has imposed penalties against Star's former managing director and former CFO as part of settlements reached with the corporate regulator, as trial against nine other executives continues.

A lawsuit alleging accounting firm Pitcher Partners was involved in race car driver Max Twigg’s misappropriation of $127 million from his family has settled for $25 million plus costs. 

Star's former managing director Greg Hawkins has reached a mid-trial settlement with the corporate regulator in its case over the casino operator’s alleged lax money laundering compliance. 

NAB has settled a suit by a former exec who alleged she was discriminated against and bullied, including having a baseball bat brandished at her.

A court has signed off on a $2.4 million settlement in a class action against Carnival over a seven-day South Pacific voyage that sailed into a Category 5 cyclone.

Defunct Westpac mortgage broker RAMS has reached a settlement in a trade mark stoush with fund manager Real Asset Management.

Noumi and auditor Deloitte will pay $43 million to resolve a class action alleging the company misled investors about its inventory, and the class action will make a play for a $5 million penalty agreed to in ASIC proceedings.