The corporate regulator will challenge a bid by payday lenders Cigno and BHF to stay its case pending their appeal to the High Court.
Investment firm Curve Securities is suing competitor Ord Minnett and a former associate director, alleging the defecting adviser solicited its clients and misused confidential information.
Payday lenders Cigno and BHF have filed High Court challenges to a judgment which found they could not bypass lender obligations contained in the Credit Code, warning the judgment could subject buy now, pay later schemes to the Code.
Mastercard had a legitimate and pro-competitive reason for reaching agreements with major retailers to choose its network over Eftpos for debit card processing, a court was told Wednesday in the competition regulator’s misuse of market power case against the financial services behemoth.
Law firm Sophie Grace has settled a lawsuit brought by collapsed forex broker Gallop International Group claiming its failure to ensure the company complied with its obligations as a holder of an Australian financial services licence led to $15.4 million in investor funds being loaned to the company’s director in Hong Kong.
The settlement figure in a class action against a unit of Suncorp Group has been revealed as $33 million, and super members are set to share in the net sum of $14 million, or 42.5 per cent of the deal.
A judge has allowed receivers to sell the Dover Heights mansion of Sydney fraudster Melissa Caddick without any distribution of proceeds, saying the sale “should take place post-haste”.
PwC partners are facing “very serious” allegations that they had actual knowledge that a $30 million dividend payment to the director of now defunct tertiary education provider Cornerstone was unlawful.
Accounting firm Pitcher Partners wants to shut down a lawsuit brought by the Twigg family alleging it helped race car driver Max Twigg misappropriate $127.8 million in family trust money for himself.
Japanese bank SMBC has brought a $33.6M lawsuit against fintech Humm Group after its subsidiary Flexirent allegedly misled the bank about receivables under allegedly forged contracts between a Forum Group entity and Veolia Environmental Services.