ASIC has won orders declaring that Gold Coast-based BHF Solutions and Cigno needed a credit licence to issue loans to hundreds of thousands of customers, after the High Court tossed a challenge by the payday lenders.
The applicants in competing class actions against Downer EDI have set out their proposals for the courts overseeing the cases, with two calling for orders staying the proceedings of their rivals, and another seeking consolidation.
Greensill Capital’s UK division has won a stay of several lawsuits over the supply chain financing firm’s $1.7 billion collapse, but an insurer has already flagged a bid to press on with its claims against the company.
Emails exchanged during a bullying investigation into former basketball great Shane Heal must be shared, a judge has found, as the Sydney Flames coach battles to protect his reputation and his employment with the WNBL club.
Multiple class actions against Downer EDI over accounting irregularities might be bound for the High Court as complex legal questions swirl, a judge said on Wednesday.
The National Australia Bank has flagged a potential strike-out bid against a landmark case by the Finance Sector Union alleging bank managers were required to work unreasonable unpaid hours for years.
The applicant in an investor class action over the collapse of advisory firm Linchpin Capital and Endeavour Securities has raised concerns about the authenticity of Linchpin’s business records, which it wants to put into evidence at trial in two months.
More class action law firms have pounced on Downer EDI’s “accounting irregularities” that led to the company overstating profits by up to $40 million.
A judge has refused American International Group’s bid to withdraw an admission that directors of defunct advisory firm Linchpin Capital were covered under a D&O policy in an investor class action that has settled against everyone but the insurer.
An investor class action has reached a settlement with four former directors of defunct Linchpin Capital, leaving only allegations against AIG Insurance, which is allegedly seeking to withdraw an admission that directors were insured under a D&O policy.