Settlement

A judge has signed off on Westpac's $130 million settlement in a class action over flexible commissions paid to car dealers, bringing to an end three cases brought by Maurice Blackburn against lenders.

A judge hearing a class action over the collapse of mining company Cudeco has questioned why, despite an in-principle settlement being reached with auditor KPMG, the parties have not sought to formally dismiss the claim. 

A judge has signed off on a $59 million settlement in a class action accusing five banks of foreign exchange rate-rigging, while bemoaning the failure of successive attorneys-general to advance reforms clarifying the court’s power to make class closure orders.

A judge has said a $360 million settlement in a US class action could be relevant to deciding whether to vary a 25 per cent contingency fee in an Australian class action against Hino Motors, which settled for $87 million.  

Ord Minnett has resolved a suit by a former exec claiming he was sacked for complaining about a $110,000 pay cut imposed after ASIC slapped the wealth management firm with a $880,000 penalty for breaching market integrity rules.

The applicant in one of four declassed COVID-19 business interruption class actions has reached a settlement under which it will receive $100,000 and the funder the backed the case will pay $1 million towards Insurance Australia's costs.

Casino operator Crown has agreed to pay $73 million over two years to settle a shareholder class action accusing it of lax money laundering compliance, with solicitors set to take home $20 million.

A judge has approved an $87 million settlement in a class action against Hino Motors, but says he needs to hear from a contradictor before greenlighting a law firm's 25 per cent contingency fee.

The liquidator of six companies linked to the nephew of former Nudie Juice founder Andrew Binetter has secured approval for a settlement in a case over the fallout of a massive tax evasion scheme.

Bellamy’s Organic has resolved a suit by its former CEO alleging the baby food producer discriminated against her by offering a salary that was one-third of what her male predecessor earned.