Awaiting judgment in Federal Court class actions by shareholders over its money laundering risk disclosures, the Commonwealth Bank will ask the court to reopen the case to consider the relevance of two recent decisions that found shareholders in other class actions had failed to prove loss.
Judges were not afraid to vent their spleen in 2023, but lawyers were not the only object of judicial scorn last year, as judges waded into public discourse and sounded off over issues including complex legislation, media reports, famous social media commentators, and the involvement of government departments in legal proceedings.
In a victory for Zurich Australia, the Australian Securities and Investments Commission has lost its first-ever civil penalty case alleging an insurer failed to act with utmost good faith during claims handling.
Worley contravened the Corporations Act a decade ago when it failed to correct 2014 earnings guidance for several months, but shareholders in a long-running class action against the engineering services company have failed to prove the breach caused any loss, a judge has found.
Food manufacturer Noumi is trying to reach agreement with the Australian Securities and Investments Commission on a penalty to propose to the court for violating its continuous disclosure obligations by overstating the value of inventory.
An appeals court has refused to set aside subpoenas forcing Seven to produce some of the 8,600 emails it exchanged with Ben Roberts-Smith’s solicitors concerning his failed defamation case over alleged war crimes he committed in Afghanistan.
The Australian Securities and Investments Commission has lost its bid to temporarily restrain payday lenders Cigno and BSF Solutions from enforcing loan fees against 7,000 customers, with a judge finding an injunction could destroy their businesses.
AMP has been taken to court by a former licenced financial advisor who alleges he was terminated without proper and sufficient cause and forced to sell his business for $6.1 million under the wealth manager’s buyer of last resort program.
The Indian government has lodged an appeal after a judge found it can’t avoid a $111.3 million arbitral award in a dispute with three Mauritian companies that invested in Indian satellites.
Carnival has pointed the finger at passengers in response to a class action over norovirus outbreaks on its Sun Princess cruise ship, a defence that recently flopped in a separate class action over a COVID-19 outbreak aboard Ruby Princess.