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Investors in Mayfair Group’s collapsed IPO Wealth Fund stand to recoup “a lot less” than their alleged $67 million in losses from a settlement in a class action alleging the fund’s trustee misled the unit holders -- but they will take home 75 per cent of the resolution sum, a court has heard.
Top tier law firm King & Wood Mallesons has lured leading competition lawyer Luke Woodward to bolster its regulatory practice.
A foreshadowed application for a funding order in a class action that would put a lien on some group members’ homes was “entirely unprecedented and without jurisprudential basis”, retirement home provider Aveo Group has said.
The CEO of Optus has come out swinging against a proposed 10-year agreement between TPG and Telstra to share mobile network infrastructure and spectrum in parts of regional Australia, warning it would harm consumers.
Mercedes-Benz is facing a potential class action over a recall affecting over 17,000 vehicles installed with faulty brake boosters.
Two Sydney roof tiling businesses have made admissions in civil penalty proceedings brought by the Australian Competition and Consumer Commission alleging they rigged bids for construction at the University of Sydney.
The ACCC has taken Mastercard to court for allegedly misusing its market power by giving major retailers discounted interchange rates in exchange for them agreeing to process their debit card transactions through Mastercard instead of the cheaper eftpos network.
The Australia and New Zealand Banking Group hit hundreds of thousands of customers with cash advance fees after providing them with incorrect account balances, and the Big Four bank has still not rectified the problem, ASIC alleges in new civil penalty proceedings.
Ernst & Young has settled all claims against it in a shareholder class action alleging the Big Four accounting firm and Pitcher Partners signed off on an overly rosy year-end financial report that failed to disclose risks and impairments associated with the law firm's disastrous $1.2 billion acquisition of UK insurance claims company Quindell.
Defunct financial advisory firm Dover Financial and its former director have taken ASIC to court seeking discovery as they mull a potential lawsuit against the corporate regulator.