A judge has hit Westpac with a $1.5 million penalty for misleading 141 customers into believing they had purchased add-on insurance.
The corporate regulator has filed court proceedings against Macquarie Bank alleging it failed to monitor third-party withdrawals, leading to a financial adviser’s theft of $2.9 million in customer funds.
Collapsed supply chain finance company Greensill Capital has been accused of fraudulently obtaining policies from its largest insurer, Japan-based Tokio Marine, which has been dragged into four lawsuits over a trade credit policy issued in 2019.
An additional 1,200 women who were implanted with defective pelvic mesh devices will be eligible for compensation after Johnson & Johnson unit Ethicon agreed that findings in an earlier class action which it unsuccessfully fought all the way to the High Court should apply to a follow-on class action.
The structural engineer behind Sydney’s Opal Tower plans to drag insurer Tokio Marine into a lawsuit against two of Icon’s insurers, after discovering another $50 million policy that responds to claims in a class action brought by apartment owners.
Westpac has agreed to pay $1.5 million to settle proceedings brought by ASIC for misleading 141 customers into believing they had purchased add-on insurance.
A case before the Full Court that will revisit the question of whether class actions are managed investment schemes may not resolve all of the funding controversies that have emerged in a class action against franchise giant Retail Food Group, a court has heard.
A barrister who has sued Nine over its coverage of her battle for custody of famed social media pooch Oscar the cavoodle has accused the media company of seeking to delay filing a response to the lawsuit so that it can ‘fish’ for a defence.
Mercedes-Benz will defend ACCC proceedings alleging it exposed consumers to serious injury or death by failing to comply with obligations under a compulsory recall of potentially deadly Takata airbags by arguing the recall was invalid.
The ACCC has expressed preliminary concerns that Spirit Super and Palisade Investment Partners’ proposed $1.2 billion acquisition of the Port of Geelong could substantially lessen competition in Victoria for the supply of bulk cargo port services.