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Westpac has released further details of its fraud claim against Bill Papas, founder of the Forum Group of Companies, painting a picture of an elaborate scheme to misappropriate $254 million to buy real estate, jewellery, luxury cars, racehorses and European football teams.
The Federal Court has given the greenlight to a $30 million settlement in Shine Lawyers' insurance class action against Westpac and will allow post-settlement registration notices to be sent to group members.
The former senior counsel in a settled insurance class action against Westpac has had his fees reduced by $70,000 after the Federal Court heard some of the work for which he charged was not done in the interests of group members.
Sydney's ongoing COVID-19 lockdown has created "logistical" difficulties delaying the release of a long awaited judgment in the ACCC's consumer law case against collapsed private college Phoenix Institute, which was accused of misleading students through the marketing of its courses.
A judge has said the applicant in a class action against Brambles has “side-stepped” a challenge to a landmark class closure ruling that found there was no statutory power to shut out unregistered class action members, a decision that he said had “bedevilled” the courts.
Westpac has told the Federal Court it has "grave concerns" about Forum Group founder Bill Papas' evidence of his assets, contained in affidavits lodged on Thursday after weeks of non-compliance with a judge's orders.
A judge has found artificial intelligence can be named as the inventor on a patent application, setting aside an IP Australia finding that allowing a machine to be considered an inventor would render the Patents Act incapable of "sensible operation".
Forum Group director Bill Papas intends to return to Australia to face $400 million fraud allegations but doesn't have the funds for a flight home, his lawyer told the Federal Court Wednesday.
A judge has vacated next year's trial in ASIC's insider trading case against Westpac despite "misgivings", and has made orders regarding confidential evidence after the Australian financial watchdog argued that handing the material to the bank could damage its relationship with its Hong Kong counterpart.
A judge has issued an ultimatum to Forum Finance director Bill Papas for his "entirely unsatisfactory" conduct in failing to provide details of personal assets while defending three lawsuits that accuse him of being behind a $400 million fraud.