The Commonwealth Bank of Australia has denied that it received any benefits through the sale of its Essential Super product, rejecting claims by Australian Securities and Investments Commission that it breached the conflicted remuneration provisions of the Corporations Act.
A judge has appointed provisional liquidators to investment firm Mayfair 101 and has banned director James Mawhinney from transferring any assets out of Australia, after the corporate regulator told the court Mawhinney could face criminal charges.
A judge has ordered private health insurer Medibank to pay $5 million in penalties for rejecting the claims of hundreds of members who were entitled to coverage for critical medical procedures, including spinal surgery.
Already facing action by the corporate regulator for alleged misleading and deceptive conduct and a potential class action, investment firm Mayfair 101 must now defend a lawsuit by former Liberal senator Julian McGauran, who is demanding the return of his $1 million investment.
A judge has tossed legal action by the Fair Work Ombudsman against United Petroleum to enforce a notice to produce records as part of an investigation of workplace breaches, ruling the notice invalid.
Directed Electronics has slammed a decision by one of its former managers to switch lawyers in the middle of a trial over alleged corporate theft, saying the move had a “tactical flavour”.
A judge has issued a temporary injunction limiting how Mayfair 101 can promote two of its investment products, in proceedings brought by ASIC accusing the investment firm of misleading and deceptive advertising.
The judge overseeing the trial in a trade secrets case brought by Australian auto electronics developer Directed Electronics OE against its rivals is considering how the cross-examination of witnesses will proceed given current restrictions imposed on gatherings due to the coronavirus, including in the event of a possible lockdown.
An insurance broker breached its duties to a software company and must cover the costs of a settlement it reached with Microsoft for copyright infringement, a court has found.
A former manager of Australian electronics automotive developer Directed Electronics OE has failed to block access to certain documents in a corporate theft case, despite the Federal Court finding they gave rise to a “real and appreciable risk” of civil or criminal prosecution against him.