Details of a settlement with AIG in a class action by investors in failed Linchpin reveal the insurer has paid out all of a $10 million policy and will hand over another $2.15 million in interest and costs.
Westpac is arguing timelines prepared by law firm Allens are privileged and should not be handed over in a shareholder class action over its alleged lax compliance with anti-money laundering laws.
Mills Oakley has hired two new partners for its financial services and national property teams.
Debt management firm Solve My Debt Now will face trial over claims by the Australian Securities and Investments Commission that it left vulnerable customers worse off, despite indicating last year it would admit liability.
Advisory firm Perpetual has lost its bid for an injunction against a former senior advisor after 22 of his long-time clients tried to follow him to a rival firm.
A former Trademax trader who allegedly worked for a rival platform while employed by the firm has been ordered to court for questioning over claims he did not have access to crucial documents.
APRA has increased ANZ’s capital add-on requirement by $250 million to account for operational risks, after a report highlighted “persistent and prevalent” problems at the bank.
Buy now, pay later giant Zip will ask the High Court to throw out a ruling that found it infringed mortgage provider Firstmac’s ‘Zip’ trade mark and barred it from using the name in Australia.
A judge has approved a $3.5 million settlement in a class action brought by former clients of Sydney fraudster Melissa Caddick.
The corporate regulator has caned the super fund industry for its poor handling of death benefit claims it said had “devastating impacts” on members’ grieving relatives.