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CBA unit to pay $119.5M to settle consumer class action
Commonwealth Bank's New Zealand unit, ASB Bank, has agreed to pay $119.35 million to settle a class action alleging it failed to repay fees and interest wrongly charged to 150,000 customers who took out home or personal loans.
‘Argumentative and amorphous’: Startup attacks Fortescue’s call for seized docs in trade secrets row
Green iron startup Element Zero is challenging a bid by Fortescue for access to nine million seized documents in their trade secrets spat, saying its rival has not met the test for proving inadequate discovery of material.
ATO officer lied, tampered with evidence, judge says in staying fraud case
A judge has ordered federal prosecutors to drop a criminal tax fraud case against a medical researcher, finding an ATO officer lied and tampered with evidence during the probe.
ASIC approves Cboe’s application to compete with ASX for IPOs
The Australian Securities and Investments Commission has approved Cboe’s application to list companies on its platform, in direct competition with market operators, including the Australian Securities Exchange.
Man sentenced for insider trading ahead of $20M Cann Group share placement
A Victorian man has pleaded guilty and been sentenced for trading on insider information ahead of the public announcement of a $20 million share placement for medical cannabis company Cann Group.
Construction PRO
Catalyst wins $32M from Presbyterian Church of Qld for failed land deals
Property group Catalyst has won $31.7 million from a trustee corporation of the Presbyterian Church of Queensland over a suite of scuppered transactions for land and aged care homes.
Construction PRO
Monadelphous loses fight over amendments in suit over Kawana sewage plant
Engineer Monadelphous has lost a fight that will affect its ability to run a limitations defence in a suit over alleged defects in a sewage plant upgrade on the Sunshine Coast.
Construction PRO
AGL, Someva Renewables win thumbs up for Pottinger Energy Park
A joint venture of AGL Energy and Someva Renewables has been given the government's go-ahead for a new wind farm in NSW's Riverina region that is expected to power almost 600,000 homes.
Telstra hit with $18M penalty in ACCC case over Belong speeds
Telstra has been ordered to pay $18 million in ACCC proceedings, after a court found the telco misled thousands of broadband customers about the speed of its budget internet provider Belong.
Judge questions claim Banksia receiver ‘went along’ with class action settlement
A judge has questioned whether an investor in failed Banksia Securities can bring a case against a court-appointed receiver over his support for a class action settlement later found to involve deception by a team of lawyers.