Two Westpac units have made admissions and said they would not defend proceedings brought by the Australian Securities and Investments Commission over fees charged for services that were not provided to hundreds of financial advice customers.
A court has ordered the winding up of Askk Investment Group and the unregistered managed investment scheme it operated in Beveridge, Victoria, that raised more than $11 million from investors.
The Australian Taxation Office has won its appeal of a ruling that found that a 15 per cent ‘Backpacker’s Tax’ imposed on holders of Australian working holiday visas was unlawful.
A lawsuit by iSignthis seeking over $27 million in damages from the ASX has been sent back for revision, after a judge found the fintech had failed to causally link how a report by the exchange led to lost contracts with five clients.
The Australian Competition and Consumer Commission has succeeded in its case against Kogan, with a judge finding statements the online retailer made during a 2018 promotion were misleading and drew consumers into the company’s “marketing web”.
ISignthis is ramping up its battle against the ASX, seeking court approval to amend its lawsuit against the exchange to seek more than $27 million in damages for its alleged misleading and deceptive conduct.
A Marshall Islands-based binary options trader has been hit with a $1.8 million penalty after a judge found it engaged in the “deliberate deception of vulnerable people”.
Maurice Blackburn has come up short in its challenge to a multimillion dollar tax bill for a record settlement payout in the Black Saturday bushfire class actions.
ISignthis has come up short in its courtroom bid to block publication of the Australian Stock Exchange’s “damaging” reasons for suspending its shares.
Publication of a document outlining the Australian Stock Exchange’s reasons for suspending the shares of ISignthis would be ‘damaging’ to the fintech company and should be barred until after the trial, a court has heard.