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Banksia class action funder’s assets likely exceed $19M owing investors
Class Actions 2023-05-22 11:11 pm By Christine Caulfield

The value of assets held by companies linked to the late Banksia Securities class action funder is expected to top the $19 million owing on a court judgment against the fraudster and his c0-conspirators.

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‘Looks like credit, acts like credit’: Government flags reforms to buy now, pay later industry
Fintech 2023-05-22 2:32 pm By Sam Matthews

Buy now, pay later services will soon be regulated as credit products under proposed changes to the law flagged by the federal government amid concerns about financial risks the service poses to consumers.

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Union test case alleges John Holland blocked silica dust testing efforts
Construction 2023-05-22 10:51 pm By Sam Matthews

The Australian Workers’ Union is targeting John Holland in a new test case alleging the construction giant prevented union officials from testing the levels of dangerous silica dust at its WestConnex tunnel project in Sydney.

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DRA Global can’t suppress ‘scandalous’ details from ex-CEO’s $9M lawsuit
Employment 2023-05-22 5:53 pm By Cindy Cameronne

DRA Global has failed to keep under wraps passages from its former CEO’s lawsuit which the engineering firm argued would cause “serious reputational and commercial harm” if published.

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Aussie honey producers triumph in trans-Tasman tussle over manuka honey rights
Intellectual Property 2023-05-22 10:11 pm By Gareth Baker

New Zealand honey producers have failed in a lengthy fight with their Aussie counterparts to trade mark the term ‘manuka honey’, with the Intellectual Property Office of New Zealand ruling the phrase is merely descriptive of a type of honey.

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‘Extraordinary unhappiness’ with $300M J&J pelvic mesh settlement, court hears
Product Liability 2023-05-19 3:08 pm By Sam Matthews

A contradictor in two pelvic mesh class actions against Johnson & Johnson and unit Ethicon has told the court of the “extraordinary amount of group member unhappiness” following approval of a $300 million settlement – the largest in the history of Australian product liability group proceedings.

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AMP hit with $24M penalty for ‘unconscionable’ practice of charging dead customers
Financial Services 2023-05-19 12:16 pm By Christine Caulfield

A judge has ordered two AMP units to pay a total of $24 million after finding the wealth manager acted unconscionably in charging insurance premiums and advice fees to deceased customers.

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NAB flags attack on landmark union case alleging ‘systemic, deliberate understaffing’
Financial Services 2023-05-19 11:49 pm By Gareth Baker

The National Australia Bank has flagged a potential strike-out bid against a landmark case by the Finance Sector Union alleging bank managers were required to work unreasonable unpaid hours for years. 

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Higgins’ speech in public interest, ABC says in Lehrmann defamation suit
Defamation 2023-05-19 2:50 pm By Sam Matthews

The ABC is relying on a new statutory public interest defence in a defamation case brought by accused rapist Bruce Lehrmann over its coverage of a National Press Club speech by his accuser, former Liberal staffer Brittany Higgins.

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Nine drops truth defence in defamation case by Euro Pacific Bank chief
Defamation 2023-05-19 3:52 pm By Christine Caulfield

Nine has abandoned its truth defence in a case brought by Euro Pacific CEO Peter Schiff over a 60 Minutes report on an international tax evasion investigation, and the bank boss is entitled to judgment in his favour, a court has heard.

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