Investors in the failed Gold Coast finance group Octaviar are challenging a decision throwing out their class action, which alleged the Public Trustee of Queensland deserved some of the blame for their massive losses.
The judge overseeing seven class actions against S&P Global Ratings over toxic financial products has appointed a barrister to advise him on whether to approve a confidential global settlement, which would give funder Litigation Capital Partners about half the payout.
The lead applicant in a resolved class action against Bank of Queensland has argued law firm Quinn Emanuel and litigation funder Vannin Capital should have their costs slashed by millions of dollars, saying their fees left little of the settlement for group members.
The Australian Securities and Investments Commission has taken Queensland firm Refocus Financial Group to court for allegedly co-opting over $1.4 million in client loans for personal and business use.
Goldman Sachs has agreed to involve more lawyers in its capital markets transactions communications, after the Australian Securities and Investments Commission raised concerns about representations made during a Healthscope block trade managed by the US investment bank.
The trial in ASIC’s complex share market manipulation action against Whitebox Trading began Monday, with an opening submission by the corporate regulator that at times had even the presiding judge scratching his head.
A Federal Court judge has ordered Cash Converters to provide answers to how it treated its brokerage fees for tax purposes, as it faces new class action allegations that the brokerage fees it charged individuals who took out pay day loans were actually for services it received.
Commonwealth Bank of Australia is facing a second shareholder class action after agreeing to fork over $700 million to settle anti-money laundering claims by the government’s financial intelligence agency.
Clayton Utz, the law firm that faced scrutiny over the independence of a report it authored for AMP, is representing the wealth manager in ASIC’s case over so-called insurance churning.
The founder of Dover Financial Advisers will never work in the industry again, he has told the Australian Securities and Investments Commission as part of a court-enforceable undertaking that also strips the firm of its operating licence.