Two former directors of Tennis Australia can’t access chats between ASIC and other executives from the tennis body, with a judge finding the documents recording the communications with the potential witnesses were created in anticipation of litigation and were therefore privileged.
The Australian Securities and Investments Commission has filed Federal Court proceedings against Bank of Queensland and Bendigo and Adelaide Bank over alleged unfair terms in their small business contracts.
Allianz Australia will refund over $8 million in fees and premiums to customers who were sold worthless cover they were not eligible to make claims under, including teenagers who were sold death cover.
The Australian Securities and Investments Commission has brought legal action against National Australia Bank over its scandal-ridden ‘Introducer’ loan referral program.
Six individuals interviewed by ASIC in relation to the collapse of sandalwood producer Quintis have sought leave to intervene in the regulator’s case against the company’s founder, Frank Wilson, after he sought discovery from ASIC of interview transcripts.
The applicants in the Radio Rentals “Rent, Try $1 Buy” class action have flagged the potential for prejudice caused by the respondents’ late evidence, with concerns about their capacity to be ready by the looming trial date if ongoing settlement negotiations hit a dead-end.
The judge overseeing proceedings brought against logistics company GetSwift has refused the corporate regulator’s request for another year’s worth of documents, saying it could effectively require the company to start the discovery process over again.
The Australian Securities and Investigations is making up for lost time, ramping up its investigation and litigation efforts following a blistering critique by the banking royal commission of its soft enforcement approach.
The Federal Court’s top judge has urged ASIC and ANZ to continue their “litigation good faith” in the corporate cop’s action over $35 million in allegedly illegal customer fees charged by the bank, and cautioned the two sides against slogging it out with a “staged trench warfare” mentality.
A judge has ordered ASIC and defence shipbuilder Austal to try to narrow the scope of documents at the centre of the regulator’s case challenging the company’s claims of legal professional privilege.