The Australian Securities and Investments Commission has taken legal action on another referral from the banking royal commission, dragging life insurer TAL to court for allegedly engaging in misleading and deceptive conduct in its handling of a claim for coverage.
The Australian Prudential Regulation Authority has flagged potentially “substantial gaps in risk governance” by Westpac as it formally kicked off an investigation into the bank and its executives for potential breaches of the Banking Act.
The judge overseeing a conflicted remuneration class action against Suncorp has allowed the class to bring an unconscionable conduct claim, but put the kibosh on the plaintiff’s use of the phrase ‘inter alia,’ saying “only I get to use Latin”.
German cladding manufacturer 3A Composites has again threatened to call for the de-classing of a class action brought over allegedly combustible cladding, slamming the case against it as “simply shambolic” and the conduct of the applicant as “utterly irresponsible”.
A self-imposed cap on legal fees and a reduced funding cut of a $16.5 million settlement in a class action against failed construction company Forge Group was the right call by the law firm and the funder behind the case, a judge has said in his reasons for approving the deal.
The High Court will not hear an appeal by the ABC and Nine seeking to revive their truth defence in a defamation lawsuit brought by Chinese businessman Chau Chak Wing.
A magistrate has dismissed a bid to expand the cross examination of a JPMorgan witness in the closely watched criminal cartel case over a $2.5 billion ANZ share placement, calling it a “back door” attempt to bypass a prior court ruling.
The State of Queensland will not appeal a ruling that found it, as well as the operators of two Queensland dams, were negligent in the 2011 floods in the Southeast region of the state that left over 2,000 homes destroyed.
The Australian Competition and Consumer Commission has raised concerns about Asahi’s proposed $16 billion acquisition of Carlton & United Breweries, saying the deal would likely reduce competition in the cider market and could also impact on the beer market.
The Australian Competition and Consumer Commission will get an additional $26.9 million to take on Google and Facebook, but the Federal Government will proceed more slowly in implementing some of the more wide-ranging proposals in the regulator’s final digital platforms report, including suggested changes to privacy and merger review laws.