The firm and funder that ran a shareholder class action against Ardent Leisure over the 2016 Dreamworld tragedy are seeking deductions totalling more than half of the $26 million settlement reached in the case.
A judge has ordered National Australia Bank to pay just one-fifth the $10 million penalty proposed by ASIC for overcharging customer fees, taking aim at the regulator’s concise pleading and saying the maximum penalty he could order was “woefully inadequate”.
Dairy processor Lactalis Australia has been hit with a $950,000 penalty in the first proceedings against a company for breaches of the Dairy Code.
Queensland lender SunshineLoans has lost its second bid for the Full Court to decide whether ASIC has the power to bring civil penalty proceedings for violations of the Credit Code, with a judge finding its arguments were not strong enough to vacate an upcoming trial.
Sunshine Loans has lost its bid to have the Full Court weigh in on ASIC’s authority to seek penalties for Credit Code violations, in proceedings accusing the online lender of charging over $320,000 in prohibited fees.
NAB has told a court it should pay a $2 million penalty — not the $10 million proposed by ASIC — for engaging in unconscionable conduct by overcharging customers, saying the exact words used in the regulator’s concise statement accuse it only of a single contravention.
The lead applicant in a franchisee class action against the Hog’s Breath Cafe restaurant chain is considering an application to declass the case it brought after losing a challenge to a $1.23 million security for costs order.
The Full Court has found that a policy exclusion applies in a dispute between Acciona Infrastructure and Ferrovial Construction and three insurers over coverage for loss and damage caused by heavy rainfall during the construction of the $695 million Pacific Highway in northern New South Wales.
A court has found National Australia Bank engaged in unconscionable conduct in knowingly overcharging thousands of customers periodic payment fees for four years.
A potentially stultifying order for $1.23 million in security for costs in a class action against the Hog’s Breath Cafe restaurant chain has survived a challenge by the franchisees.