Payday lenders BSF Solutions and Cigno have lost an appeal in action by ASIC alleging they engaged in unlicensed credit activity and charged prohibited fees, in the case’s second run up to the Full Federal Court.
In a new suit against the developer of an abandoned $185 million project in Sydney, Shinetec has asked the court to declare its priority interest in a $48 million payment recently paid to the developer by Bank of China.
Shinetec, the Australian arm of China’s Shanxi Construction Investment Group, has won orders restraining the developer of an abandoned $185 million project in NSW from accessing $48 million paid to it by Bank of China.
An appeals court has dismissed the corporate regulator’s “logically inconsistent” appeal against a landmark decision that found insurer Auto & General did not include an unfair term in its contracts.
The liquidators of a company created to invest in a $2.2 million Adelaide property have asked the High Court to reinstate a judgment that found a mortgage that sent the company into liquidation was an unreasonable director-related transaction and could be voided.
An appeals court has dismissed Sky News’ challenge to a ruling that media monitor Isentia was not liable for copyright infringement despite “wholesale copying” of content for government clients.
Building façade company Sharvain, which went under last month, owes major builders $54 million, according to a judgment pushing out the date for a creditors meeting.
Defunct Westpac mortgage broker RAMS has reached a settlement in a trade mark stoush with fund manager Real Asset Management.
ASIC has attacked an appeal argument by payday lenders BSF Solutions and Cigno that athough they offered short-term loans, the fees they charged had no link to the credit services.
Westpac and two other lenders have won their cases alleging they were scammed out of $500 million in loans to the Forum group of companies.