Most Recent
ASIC takes CBA to court over $2.9M in overcharged interest
Financial Services 2020-12-01 11:24 am By Cat Fredenburgh

The Australian Securities and Investments Commission has filed civil penalty proceedings against the Commonwealth Bank of Australia for allegedly saddling consumers with $2.9 million in inflated interest rates on their business overdraft accounts on more than 12,000 occasions.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASIC wins case against insurer Youi over 2-year delay on hail damage claim
Insurance 2020-11-27 10:18 pm By Cat Fredenburgh

A court has found that insurer Youi breached its duty of utmost good faith by taking two years to settle a home owner’s hail storm claim.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Judge postpones signing off on GetSwift move to Canada until FIRB approval
Corporate 2020-11-27 7:49 pm By Cat Fredenburgh

A judge has indicated she will approve GetSwift’s plans to relocate to Canada, despite concerns raised by ASIC, but will wait until the company has received approval from the Foreign Investment Review Board.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Rio Tinto execs’ trial vacated given likelihood of COVID-19 vaccine
COVID-19 2020-11-27 6:58 pm By Spencer Fowler Steen

A judge has vacated a seven-week trial in proceedings brought by ASIC against two former Rio Tinto executives to March or April 2022, after they requested a “lengthy delay” to ensure a COVID-19 vaccine would be available before they travel to Australia for trial.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Court hears case of missing Sydney businesswoman Melissa Caddick now murder investigation
Financial Services 2020-11-27 2:38 pm By Spencer Fowler Steen

The brother of missing Sydney woman Melissa Caddick is helping police with an investigation into her murder, a court overseeing ASIC’s action against the businesswoman was told Friday.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

GetSwift not ‘fleeing the jurisdiction’ with Canada relocation bid, court told
Corporate 2020-11-26 6:58 pm By Miklos Bolza

Logistics software company GetSwift has tried to assure the Federal Court that an attempt to relocate to Canada is not for the purpose of avoiding pecuniary penalties and damages in civil proceedings brought by ASIC and a $50 million shareholder class action.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ACCC says Kogan should pay $2M for misleading promotion
Competition & Consumer Protection 2020-11-24 9:54 pm By Spencer Fowler Steen

The Australian Competition and Consumer Commission is seeking $2 million in penalties against Kogan, after a judge found statements the online retailer made during a 2018 promotion were misleading and drew consumers into the company’s “marketing web”.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Government may block GetSwift’s relocation to Canada while litigation on foot
Corporate 2020-11-24 5:50 pm By Cat Fredenburgh

Treasurer Josh Frydenberg has indicated the government may oppose GetSwift’s bid to relocate to Canada while it’s facing a $50 million shareholder class action and ASIC enforcement proceedings, a move which a judge recently described as “not a good look”.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Rio Tinto execs’ trial can wait until COVID-19 vaccine, court hears
COVID-19 2020-11-23 10:32 pm By Spencer Fowler Steen

A former Rio Tinto executive living in the US who wants to appear in person at an upcoming trial in a case brought by ASIC says the hearing should be moved to next year when a COVID-19 vaccine will likely become available and he could travel to Australia to “mount a vital defence”.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Theta hit with $2M penalty for defective product disclosure statements
Financial Services 2020-11-19 9:41 pm By Cat Fredenburgh

A court has ordered Theta Asset Management, a collapsed financial services provider that ran a property investment scheme targeting retirees, to pay a $2 million penalty for issuing defective product disclosure statements.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?