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Court blocks Clive Palmer’s bid to shut down class action funding
Class Actions 2020-02-26 3:04 pm By Miklos Bolza

A company owned by mining magnate Clive Palmer has lost its bid to temporarily block funding for a class action over the troubled Coolum Palmer Resort, with the Federal Court finding that special levies garnered from villa owners to back the proceedings were above board and legal.

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ACCC’s Rod Sims says more competition cases in the pipeline
Competition & Consumer Protection 2020-02-25 8:57 pm By Alison Eveleigh

The ACCC has revealed that it will bring at least four new competition cases this year, with chairman Rod Sims also promising that the regulator could pick up the pace when it comes to launching proceedings.

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ASIC pans Wagyu and shiraz ‘thought experiments’ in Westpac home loan appeal
Financial Services 2020-02-25 5:05 pm By Miklos Bolza

ASIC has criticised a Federal Court judge for his ‘thought experiments’ around prospective home loan applicants feasting on Wagyu beef and shiraz, as the regulator challenges the judge’s dismissal of its responsible lending case against Westpac.

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Former analyst pleads guilty to Big Un insider trading
White Collar 2020-02-25 2:12 pm By Cat Fredenburgh

A former Maple Brown Abbott analyst has pleaded guilty to insider trading and communicating inside information in relation to $1.6 million in shares of collapsed video company Big Un.

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Geowash execs appeal loss in ACCC case
Competition & Consumer Protection 2020-02-25 12:30 pm By Cat Fredenburgh

Two Geowash executives have appealed a ruling that found they were knowingly involved in the car wash franchisor’s unconscionable conduct in its dealings with franchisees.

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No harm, no foul? Full Court weighs ACCC challenge to flushable wipes ruling
Competition & Consumer Protection 2020-02-24 5:58 pm By Miklos Bolza

The ACCC claims it was not required to prove Kimberly-Clark’s flushable wipes caused actual harm to sewers, as it challenges a ruling that disposed of its consumer law case against the personal care giant.

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TAL refutes ASIC claims, stands by denial of coverage for cancer patient
Insurance 2020-02-24 2:24 pm By Cat Fredenburgh

Life insurer TAL has stood by its decision to deny coverage to a cancer patient, which landed it in hot with the Australian Securities and Investments Commission, saying it would not have issued the policy had it known the patient saw a psychologist on several occasions.

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ACCC approves Lion Dairy & Drinks acquisition by Hong Kong dairy firm
Competition & Consumer Protection 2020-02-21 1:59 pm By Miklos Bolza

The ACCC has approved Hong Kong-based China Mengniu Dairy Company’s acquisition of Lion Dairy & Drinks, saying the deal was not likely to substantially lessen competition in the raw milk market.

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Judge should be commended for ‘judicial economy’, Pacific National tells court in ACCC appeal
Competition & Consumer Protection 2020-02-18 2:37 pm By Christine Caulfield

Pacific National has defended a decision by a judge to accept an undertaking and rule against the ACCC in its competition case over the rail operator’s acquisition of a major freight terminal in Queensland, saying the ruling was structured with “commendable judicial economy”.

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NAB’s ‘grossly deficient’ systems prompted ASIC’s second fees-for-no-service case, court hears
Financial Services 2020-02-18 2:10 pm By Miklos Bolza

National Australia Bank’s “grossly deficient” systems and failure to swiftly bring its processes into compliance prompted ASIC to launch its second fees-for-no-service case against the bank, the Federal Court has heard.

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