Most Recent
AMP’s bid to declass insurance class action ‘antithesis’ of interests of justice, court rules
Financial services company AMP has lost its bid to de-class representative proceedings brought on behalf of 1.5 million insurance customers.
Banksia judge made no allowance for ‘youth and inexperience’ of Mark Elliott’s son, appeal says
The judge who made findings against the son of the mastermind behind the Banksia class action scam may have formed strong views about the 27-year-old's role before he testified and used the flawed suggestion that he was his father's right-hand man as an "evidential gap filler", an appeals court has been told.
ANZ hit with ASIC action over $18.5B home loan ‘introducer’ program
The Australian Securities and Investments Commission has launched court proceedings against ANZ alleging the banking giant's home loan 'introducer' referral program breached credit laws.
Melissa Caddick’s parents may face court battle over $2.6M Edgecliff property
The parents of accused Sydney fraudster Melissa Caddick may need to bring court proceedings to retain their $2.6 million Edgecliff home and recoup $1.2 million they gave to their daughter for the mortgage.
ACCC approves NAB’s $1.2B acquisition of Citi’s consumer business
The Australian Competition and Consumer Commission has given the green light to the National Australia Bank’s proposed $1.2 billion acquisition of Citigroup's Australian consumer business, finding the deal is not likely to substantially lessen competition.
Class action accuses QSuper of overcharging 140,000 members
Superannuation fund QSuper has been hit with a class action for allegedly overcharging up to 140,000 life insurance customers.
ASIC gets time to mull class action’s bid to ring-fence $7.2M Dixon Advisory penalty
A court has delayed a hearing on a bid by the applicant in a class action against Dixon Advisory to freeze a $7.2 million penalty secured by the Australian Securities and Investments Commission against the self-managed superfund provider so the corporate regulator can consider its position on the request.
Macquarie Group targeted in second class action over $1.8B Nuix IPO
The battle to lead a shareholder class action against Nuix over its $1.8 billion initial public offering is on, with a second class action lobbed that accuses the embattled technology company and underwriter Macquarie of failing to alert shareholders to a slew of "red flags" in the business.
Greensill Bank says IAG unit owes $48.5M under trade credit policy
The insolvency administrator of Germany-based Greensill Bank AG has launched court proceedings against Insurance Australia Limited seeking US$35 million allegedly owed under a policy indemnifying the collapsed financial services firm for unrecovered debts.
Melissa Caddick’s company wound up, with $23.5M owing to investors
ASIC has won its bid to wind up accused Sydney fraudster Melissa Caddick's company and appoint final receivers to realise her assets, paving the way for some repayment to the dozens of family and friends who invested with Caddick and are still owed $23.5 million.