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Banksia funder Mark Elliott’s ‘practice’ of deleting emails doesn’t gel, court told
Andrew Palmer 2020-10-30 10:12 pm By Christine Caulfield Melbourne

A routine practice by the funder behind the scandal-ridden Banksia class action of deleting emails, documented in a letter by his solicitors just days before his death, isn’t consistent with the electronic record maintained in another class action in which he was involved, a court overseeing a trial in the case has heard.

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Westpac settles US class actions over BBSW trading, money laundering disclosures
Class Actions 2020-10-30 10:59 am By Christine Caulfield Melbourne

Westpac has reached settlements in two separate US class actions over the bank’s trading activity in the bank bill swap rate market and disclosures in relation to its compliance with Australia’s anti-money laundering and counter-terrorism financing laws.

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Claims of loss questioned in MySuper class action against NAB units
Allens 2020-10-29 4:04 pm By Christine Caulfield Melbourne

A judge has raised doubts about claims of loss and damage in a class action by members of superannuation funds operated by NAB units MLC and NULIS over alleged MySuper mismanagement, as he determines a challenge to whether the case was validly brought as a class action.

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$1.9M settlement is best it’s going to get, says law firm behind Appco class action
Adero Law 2020-10-29 2:10 pm By Christine Caulfield Melbourne

Facing an uphill battle to win approval for a $1.9 million settlement in a sham contracting class action against fundraiser Appco Group, a lawyer for the case has told a court there is no money left to pursue.

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New High Court judges Gleeson, Steward safe picks after secretive process
Analysis 2020-10-28 11:16 pm By Christine Caulfield Melbourne

Federal Court Justices Jacqueline Gleeson and Simon Steward are safe and steady appointments to the High Court that are unlikely to disrupt the current culture of the bench and do nothing to assuage concerns about the opacity of the selection process.

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Federal Court judges Jacqueline Gleeson, Simon Steward appointed to High Court
High Court 2020-10-28 2:01 pm By Christine Caulfield Melbourne

The Morrison government has picked Federal Court Justices Simon Steward and Jacqueline Gleeson to fill the impending vacancies on the High Court.

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7-Eleven says courts have no power to ever make a common fund order
7-Eleven 2020-10-27 11:51 pm By Christine Caulfield Melbourne

The High Court majority’s reasoning in the decision nixing common fund orders at an early stage of a class action leads “inexorably and inevitably” to the conclusion that there is no power to make such an order at any time in a proceeding, counsel for 7-Eleven has told an appeals court.

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‘Stock Swami’ Twitter account says no reasonable person would believe tweets about Tolga Kumova
Craddock Murray Neumann 2020-10-26 10:32 pm By Christine Caulfield Melbourne

The operator of the Stock Swami Twitter handle has responded to a defamation case brought by mining entrepreneur Tolga Kumova, saying a reasonable reader would not consider his tweets a reliable source of factual information about the businessman.

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ASIC deputy chair Daniel Crennan resigns over $70,000 rental payments controversy
ASIC 2020-10-26 1:26 pm By Christine Caulfield Melbourne

Australian Securities and Investments Commission deputy chair Daniel Crennan has quit his post after questions emerged over $70,000 in rental assistance payments to the regulator’s enforcement head.

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Ripple Labs denies PayID is deceptively similar to trade mark of Aussie mobile banking system
Clayton Utz 2020-10-26 12:15 pm By Christine Caulfield Melbourne

US cryptocurrency maker Ripple Labs has hit back at an intellectual property lawsuit brought by the Australian company behind the ubiquitous PayID mobile banking system, saying its PayID trade mark is neither substantially identical nor deceptively similar to the Aussie mark.

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