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The applicants in a protracted class action against the Commonwealth Bank of Australia brought by borrowers who claim they were forced to default on their commercial loans have lost a bid to amend their pleadings, six years after the case was filed.
A lawyer for Forum Finance director Bill Papas has argued the alleged fraudster should be able to shield documents held by his former lawyer under a claim for legal professional privilege despite being a “fugitive” from contempt charges.
The parents of Sydney fraudster Melissa Caddick have staked their claim over her $2.6 million Edgecliff home, which they say they have lived in since 2017 according to a binding agreement with their daughter.
A judge has signed off on a $20 million penalty against Westpac subsidiary BT Funds Management for improperly charging 9,000 members insurance premiums that included commissions to financial advisers, a practice that was banned in 2013.
The trustee of Mayfair Group's collapsed IPO Wealth Fund has reached an in-principle settlement in a class action alleging it misled investors, who lost $86 million when the fund was wound up.
A judge has hit Westpac with a $1.5 million penalty for misleading 141 customers into believing they had purchased add-on insurance.
Insurance Australia Group is investigating the underwriter behind an allegedly unauthorised trade credit policy issued to Greensill Capital, according to a defence by the insurer in a $43 million case brought by a Credit Suisse supply chain fund left heavily exposed after Greensill's collapse.
The directors of mortgage aggregator Connective Services have been hit with indemnity costs for their "outrageous conduct" in pursuing litigation against a company shareholder, including giving false statements and destroying evidence.
Continuing a recent trend in class actions, a judge will appoint a referee to weigh in on Maurice Blackburn's costs in a $56.3 million settlement in a class action against Colonial First State, but has so far declined to appoint a contradictor.
A Citigroup customer has hit the bank with a lawsuit alleging it gave her conflicted financial advice to invest most of her savings in “risky” products, despite being an inexperienced investor with limited funds.