The corporate watchdog would not take action on funding terms in a Fair Work class action brought by Adero Law, after receiving reports of potential misleading or deceptive conduct by the law firm and the funder backing the case, according to submissions made in the government’s latest inquiry into litigation funding and class actions.
A former Sydney liquidator has been charged with dishonesty offences and faces possible jail time after allegedly misappropriating almost $240,000 from company bank accounts.
The Australian Securities and Investments Commission has won its challenge to a tribunal ruling that overturned a permanant ban imposed on a RI Advice Group authorised financial planner who double charged his clients.
The Australian Competition and Consumer Commission will not oppose the acquisition of global pharmaceutical giant Bayer’s animal health business by competitor Elanco, after the company agreed to divest certain brands to allay competition concerns.
The Commonwealth Bank of Australia has refused to provide sought-after documents to the lead applicants of a joint class action against it until AUSTRAC grants permission, citing concerns over possible criminal breaches if it hands over the material without the agency’s approval.
A judge has appointed special purpose liquidators to investigate the affairs of failed VET provider Phoenix Institute and its directors after the Commonwealth complained of “a difficult working relationship” with the training company’s current liquidators.
The ACCC is challenging a ruling that dismissed the watchdog’s claim that property investment company Quantum Housing Group engaged in unconscionable conduct in misleading investors in the National Rental Affordability Scheme, saying the legal test for finding unconsionability under the consumer law needed clarifying.
Freedom Furniture has paid penalties of $25,200 after being hit with two infringement notices by the Australian Competition and Consumer Commission for allegedly misleading customers about their consumer guarantee rights.
A court has appointed provisional liquidators to the IPO Wealth Group, rejecting claims by the firm’s sole director that the move would severely damage his reputation and that of the wider Mayfair group.
Supermarket giant Woolworths has been hit with a $1 million infringement notice from the Australian Communications and Media Authority for what the regulator called “significant breaches” of spam laws.