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AMP has agreed to pay $120 million to settle a class action stemming from the banking royal commission which accused it of overcharging millions of superannuation members over a 12-year period.
A former head of trading technology at the ASX has filed a lawsuit claiming he was axed after he raised concerns about insufficient resources to operate the market properly, including in relation to the exchange's CHESS replacement project.
The Finance Sector Union has accused ANZ of being a “bank in crisis”, launching a case in the Fair Work Commission over its handling of mass job cuts.
A Melbourne man has been sentenced to 18 months imprisonment after pleading guilty to trading while in possession of inside information in advance of Westfarmers' $776 million acquisition of lithium company Kidman Resources in 2019.
A judge has found a director of defunct IT company Novo breached his duty to prevent the company from trading while insolvent, but has stopped short of ordering damages, or making findings he breached other duties.
Construction PRO
Liquidators of defunct investment firm Keystone Asset Management have won expanded freezing orders to cover property up to $158 million in the name of developer Robert Filippini and family members.
Construction PRO
Proval Renewables has filed a lawsuit against renewables company May Brothers Holdings, seeking to hold it to an agreement to make commission payments of $4.5 million on a $50 million solar project.
Construction PRO
A theme park manufacturer contracted by Dreamworld to undertake $5 million in works has won a challenge to an adjudicator’s decision that found a payment claim was invalid because the company didn't have a building licence.
The judge overseeing the Robodebt class action, which settled this month for a record $548.5 million, may put the settlement administration role out to tender, saying the sum earmarked for the job was "staggeringly large".
Another judge has railed against the use of generative AI in court proceedings, after a self-represented litigant filed an application to annul his bankruptcy that was replete with fake citations.