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Banks can access JP Morgan’s ‘first accounts’ in ANZ cartel case
Competition & Consumer Protection 2021-05-14 11:56 am By Cat Fredenburgh

Several banks and executives facing criminal cartel charges over a $2.5 billion ANZ share placement have won access to interview notes taken by whistleblower JP Morgan prior to it being granted immunity, which the banks say will prove inconsistencies in the prosecution’s case.

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Telstra fined $50M for ‘beyond conscience’ exploitation of Indigenous customers
Competition & Consumer Protection 2021-05-13 10:49 pm By Cat Fredenburgh

Telstra has been fined $50 million for using unconscionable tactics to sign up more than 100 Indigenous customers with post-paid mobile plans they didn’t understand and could not afford, the second highest penalty ever imposed for consumer law violations.

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ACCC accuses company of trying to rig bid for National Gallery of Australia tender
Competition & Consumer Protection 2021-05-13 4:19 pm By Cindy Cameronne

The Australian Competition and Consumer Commission has brought proceedings against industrial technology company Delta Building Automation for allegedly attempting to rig a bid for a tender by the National Gallery of Australia.

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OTC trader wins more time to respond to ASIC’s 2,000-page pleading
ASIC 2021-05-13 3:32 pm By Miklos Bolza

A judge has granted OTC trader EuropeFX more time to file its defence to an 80-page statement of claim and over 2,000 pages of particulars filed by ASIC in its case accusing the company of knowingly exposing its Chinese customers to criminal charges.

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ASIC gets $63M funding cut as registry shifts to ATO
ASIC 2021-05-12 4:48 pm By Cindy Cameronne

The federal government has cut the budget for the Australian Securities and Investments Commission by $62.7 million in tandem with the regulator’s corporate registry being shifted to the ATO, but a legal expert told Lawyerly the cut could also signal a movement away from the “why not litigate” approach adopted in the wake of the banking royal commission.

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Google wants say on whether Epic battle with Apple should be heard in Australia
Appeals 2021-05-12 3:43 pm By Cat Fredenburgh

Internet search giant Google wants to weigh in on an appeal over whether Epic Games’ lawsuit accusing Apple of abusing its dominance in the app store marketplace should be heard in Australia, as the ACCC wins its bid to intervene in the case.

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ACCC drops long-running consumer case against NIB
Competition & Consumer Protection 2021-05-12 12:11 pm By Cat Fredenburgh

The Australian Competition and Consumer Commission has dropped a consumer case accusing NIB Health Funds of failing to alert customers to coverage changes in their policies, less than a month before trial was set to kick off in the long-running case.

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Woolworths offers undertaking to ease ACCC’s concerns over $552M PFD tie-up
Competition & Consumer Protection 2021-05-11 5:46 pm By Miklos Bolza

The ACCC is seeking views on a proposed undertaking by Woolworths aimed at allaying the regulator’s concerns about its planned $552 million acquisition of a 65 per cent stake in wholesale food distributor PFD Food Services.

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ASIC follows courts with funder relief from costs disclosures in litigation
Class Actions 2021-05-10 8:52 pm By Miklos Bolza

ASIC has taken a leaf out of the playbook of Australia’s courts in granting litigation funders temporary relief from having to disclose certain sensitive financial information in their product disclosure statements.

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HWL Ebsworth forced to hand over client file notes to ANZ whistleblower
Business of Law 2021-05-10 4:48 pm By Miklos Bolza

HWL Ebsworth has been ordered to hand over file notes to a former client and whistleblower suing ANZ for unfair dismissal, with a judge rejecting the law firm’s argument that the notes were created solely for the benefit of the junior solicitor taking them.

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