A judge overseeing competing class actions against AMP over allegedly excessive superannuation fees has signed off on an agreement by two rival law firms to consolidate their cases, avoiding a potentially costly and drawn out beauty parade.
AMP has added two law firms to separately represent its subidiaries in one of two class actions alleging it charged its superannuation members excessive fees.
German cladding manufacturer 3A Composites has denied that its cladding is unsafe and caused class members loss and damage, instead pointing the finger at unknown third parties and arguing the Federal Court does not have jurisdiction to hear the matter.
The Federal Government will introduce legislation Thursday that would ban the grandfathering of conflicted remuneration for financial advisors, after the banking royal commission suggested scrapping the practice.
A NAB-owned trustee is facing a possible class action over $100 million in allegedly excessive fees charged to super fund members.
German-based cladding manufacturer 3A Composites has foreshadowed potential cross claims against third party engineers and certifiers in one of two class actions brought over allegedly dangerous combustible cladding used in countless buildings across Australia.
Noting the “significant and beneficial reduction” in recent funding rates, the judge overseeing a shareholder class action against recycling company Sims Metal Management has signed off on an order capping the commission of the funders at 25 per cent of any net proceeds and setting a minimum 50 per cent of any recovery for group members.
A unit of Suncorp Group has been hit with a class action over superannuation fees and charges, the eighth banking royal commission-related class action filed thus far.
While no means a flood, the class actions filed in response to the shocking evidence of misbehaviour at last year’s banking royal commission have been steadily flowing and show no signs of drying up. Here, we give you the round-up of cases launched so far, the latest developments in each, and what’s coming down the pipeline.
A second combustible cladding class action has been launched, this time against Fairview Architectural, the Australian manufacturer of Vitrabond polyethylene cladding, which it claims has been used at major Australian airports, entertainment facilities and government buildings.