The hearing for a class action against National Australia Bank over allegedly worthless credit card insurance will focus on whether the bank’s allegedly unconscionable behaviour in selling these policies was systemic or confined to individual cases.
Commonwealth Bank of Australia’s insurance unit, CommInsure, is facing 87 criminal charges for allegedly hawking life insurance products in unsolicited telephone calls.
Japanese car maker Nissan is facing the threat of a class action in Australia over the continuously variable transmission in its Pathfinder sports utility vehicle, after recently settling five similar class actions in the US over the allegedly faulty transmissions.
Former Dick Smith executives Nick Abboud and Michael Potts have pointed the finger at the defunct electronics retailer’s other directors in response to cross claims by auditor Deloitte, which is named in two shareholder class actions over the company’s collapse.
Australian drug maker InterPharma will not appeal a ruling that dismissed its challenge to the validity of global pharmaceutical giant Pfizer’s patent for sedative drug Precedex.
The Australian Securities and Investments Commission has won its bid to use evidence from US proceedings in its case against Rio Tinto alleging the mining giant misled shareholders about a Mozambique mining company purchased for US$4.2 billion.
An appeals court has upheld a ruling that found two firms previously run by Joseph “Diamond Joe” Gutnik and his family were insolvent, ending a long-running battle over hundreds of millions of dollars in mining assets.
A court has thrown out a breach of contract claim brought by two subsidiaries of property developer Minster Group against National Australia Bank, but found the bank must face a $1.2 million unconscionability claim over allegedly excessive fees.
National Australia Bank is setting aside a further $1.18 billion to compensate customers for dodgy adviser service fees, consumer credit insurance sales, and non-compliant advice.
The NSW government’s Sydney Olympic Park Authority, which is facing a class action brought by owners of apartments at the troubled Opal Tower, has laid the blame on the developer, designer and builder behind the project.