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ASIC still has ‘grave concerns’ over businessman’s plans amid $35M probe
ASIC 2025-02-27 11:14 pm By Andy Sidler

After losing a travel ban application against a Melbourne businessman as part of a probe into a failed investment fund, ASIC is now seeking freezing orders over his assets.

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Court rejects NAB super trustee’s bid for first-ever class action indemnity costs
Class Actions 2025-02-26 4:38 pm By Cindy Cameronne

A court has refused to order the applicant in a failed class action against NULIS Nominees to pay indemnity costs, but has confirmed that so-called Calderbank offers can operate in group proceedings.

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AusSuper cops $27M penalty for account merger failures
ASIC 2025-02-21 3:01 pm By Andy Sidler

A judge has hit AustralianSuper with a $27 million penalty for breaching superannuation rules requiring providers to consolidate customer accounts. 

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Judge disqualifies himself from hearing Greensill cases
Insurance 2025-02-20 11:01 pm By Cindy Cameronne

A newly appointed judge has disqualified himself from hearing a group of cases over Greensill’s $1.7 billion collapse, after he acted as counsel for insurer Marsh in a related dispute. 

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Salter Brothers defeats clients’ suits over ‘misleading’ visa investment fund
Financial Services 2025-02-19 3:20 pm By Cindy Cameronne

A judge has dismissed lawsuits brought by three former Salter Brothers clients alleging they were misled about an investment fund marketed as part of a visa program to migrate to Australia.

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Norton Rose nabs former APRA general counsel
Business of Law 2025-02-18 4:59 pm By Julia Kanapathippillai

The former chief general counsel for the Australian Prudential Regulation Authority has joined Norton Rose Fulbright as a financial services partner.

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NAB resolves discrimination suit alleging ‘boys club culture’
Financial Services 2025-02-17 3:55 pm By Cat Fredenburgh

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.

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Judge who acted in ‘hot contest’ shouldn’t hear Greensill case, court told
Restructuring & Insolvency 2025-02-14 11:00 pm By Cindy Cameronne

Greensill has a “clear case” for recusal of a judge poised to hear cases over its $1.7 billion collapse, who previously acted as senior counsel for insurer Marsh in a satellite dispute.

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S&P fails in bid for all class action expert evidence to be thrown out
Class Actions 2025-02-13 3:55 pm By Cindy Cameronne

Ahead of an eight-week trial in an investor class action in July, ratings agency S&P has lost its bid to throw out the entirety of the expert evidence in the case.

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NAB super fund trustee says failed class action rejected $25M offer
Financial Services 2025-02-12 2:42 pm By Cindy Cameronne

Former NAB superannuation fund trustee NULIS is seeking the first ever award of indemnity costs in a class action that flopped following the rejection of a settlement offer.

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