The founder of whitegoods distributor Kleenmaid, who won a retrial after being sentenced to nine years for fraud and insolvent trading, will not spend any more time in jail after being resentenced by a judge who called him “a man of greed”.
The consumer regulator has initiated court proceedings alleging Facebook technology allowed scam cryptocurrency ads featuring celebrities to target susceptible users and that the social media giant failed to take adequate steps to remove them.
Calling it the “elephant in the room”, a judge overseeing a class action against Tyro over a major EFTPOS outage last year has said a dispute over who is eligible to join the case needs to be hashed out before retailers are notified of the proceedings.
The High Court has found that three asset-based lenders behaved unconscionably when they enforced thir rights under a $1.2 million loan made to a vulnerable consumer secured by a mortgage over his properties.
Mayfair 101 director James Mawhinney has sought a temporary stay of ASIC’s case accusing him of being in contempt of court for allegedly breaching a 20-year ban on selling financial products.
Online trading platform IronFX has won its action against the Australian Financial Complaints Authority over a finding it wrongfully caused an 83 year-old French resident to lose his life savings.
A judge hearing a superannuation class action against NAB unit NULIS Nominees will not determine the correct approach for calculating damages at an initial trial scheduled for later this year.
A judge has questioned the $55,000 penalty jointly proposed by the parties in ASIC’s case against fintech company Squirrel Super over misleading statements about returns on property statements, saying it “might be a bit light on.”
The issuer of Gold Coast-based cryptocurrency Qoin has asked a court to throw out a class action alleging breaches of the ASIC Act and Australian Consumer Law in relation to the issue of the utility coin.
The Federal Court won’t permit a Melbourne-based judge to travel to Sydney on the dime of the parties in a class action against wealth management group Colonial First State, but will foot the bill itself.