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Courts criticised for losing sight of justice in Takata airbag class closure challenge
Class Actions 2020-02-19 8:38 pm By Miklos Bolza

The lead applicants in seven class actions against auto manufacturers over explosive Takata airbags have criticised the courts for losing their way in ensuring justice is done, in a landmark challenge to class closure orders made in the cases.

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NAB’s ‘grossly deficient’ systems prompted ASIC’s second fees-for-no-service case, court hears
Financial Services 2020-02-18 2:10 pm By Miklos Bolza

National Australia Bank’s “grossly deficient” systems and failure to swiftly bring its processes into compliance prompted ASIC to launch its second fees-for-no-service case against the bank, the Federal Court has heard.

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ACCC cartel investigator admits ‘oversight’ in comfort letter to JPMorgan
Competition & Consumer Protection 2020-02-14 10:51 pm By Miklos Bolza

An ACCC officer who was heading up a team investigating alleged cartel conduct by ANZ Banking Group and three investment banks has admitted that the regulator may have made an ‘oversight’ in a letter of comfort offered to JPMorgan ahead of the bank’s immunity application in the case.

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In loss for Herbert Smith Freehills, court says self-represented law firms can’t recover costs
Business of Law 2020-02-13 4:29 pm By Cat Fredenburgh

Herbert Smith Freehills cannot recover its costs for successfully representing itself in litigation with United Petroleum over the company’s aborted initial public offering, with an appeals court finding the High Court’s recent ruling eliminating the so-called Chorley exception for self-represented lawyers applies to law firms as well.

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Law firms behind Monsanto competing class actions can’t seem to get along
Class Actions 2020-02-13 2:47 pm By Miklos Bolza

The law firms running two competing product liability class actions against chemical giant Monsanto over its allegedly cancer-causing weed killer have been unable to reach agreement on how they will jointly manage the cases, a court has heard.

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Judge clears $15B Vodafone, TPG deal in latest merger challenge loss for ACCC
Competition & Consumer Protection 2020-02-13 11:21 am By Christine Caulfield

Vodafone has won its case against the ACCC over its proposed merger with rival telecommunications company TPG, with a judge ruling the tie-up would not substantially lessen competition and had a real chance of becoming a “competitive force” against the two dominant players in the market, Telstra and Optus.

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ACCC officer denies anything ‘sinister’ in examination of ANZ cartel witness
Competition & Consumer Protection 2020-02-12 9:17 pm By Miklos Bolza

During another day of cross-examination in a criminal cartel case against ANZ and two investment banks, a key ACCC officer was accused of lying about his interrogation of a key cartel witness, with the officer insisting there was nothing “sinister” in his examination.

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‘You’re lying’: ANZ attacks ACCC witness on crucial cartel evidence
Financial Services 2020-02-11 10:06 pm By Miklos Bolza

An ACCC investigator has come under fire from ANZ as the bank seeks to shoot holes in the criminal cartel action against it, with counsel for the bank accusing the regulator of “infecting” witness statements and erasing testimony that weakened its case.

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ACCC investigator shoots down claims of impropriety in ANZ cartel case
Competition & Consumer Protection 2020-02-10 9:15 pm By Miklos Bolza

A key officer from the ACCC involved in interviewing JPMorgan bankers during a cartel investigation that led to criminal charges against ANZ and two investment banks has denied allegations that he acted improperly during the investigation.

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ANZ wins fight for ASIC docs in cartel case, but battle might not be over
Competition & Consumer Protection 2020-02-07 3:10 pm By Miklos Bolza

ANZ has won access to documents the bank claims are crucial to its defence in a high stakes criminal cartel case, but the Australian Securities and Investments Commission has flagged a possible appeal of the ruling.

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