The Australian Securities and Investments Commission has brought proceedings against insurance company OnePath Life, marking the first time the corporate regulator is seeking financial penalties for an alleged failure to act with utmost good faith during claims handling.
The High Court has refused to hear an appeal of a decision forcing an unnamed litigation funder to provide $415,000 in security for the NSW government’s defence costs in a class action over the alleged fraudulent acquisition of land for construction of the $16 billion WestConnex tunnel.
Closing a class action trial over Sydney’s $3 billion light rail, a lawyer for 3,500 small businesses told a judge Wednesday the NSW government had to show that building the tram network was a “reasonably necessary” addition to the city’s transport options.
Insurers will file de-classing applications in four class actions on behalf of small businesses seeking coverage under business interruption policies for losses flowing from COVID-19 restrictions after their test cases largely failed.
Boral has won its bid to shield from shareholders in a class action three investigative reports, including one by accounting giant EY, concerning financial irregularities in the construction company’s North America windows business.
The Australian Competition and Consumer Commission has brought proceedings against Telstra alleging it misled almost 9,000 customers about the upload speed of its budget internet provider Belong.
A contradictor in two pelvic mesh class actions against Johnson & Johnson has opposed Shine Lawyers recovering $100 million in costs from a $300 million settlement, which a judge has preliminarily found is not fair and reasonable to group members.
Santos has lost its challenge to a judge’s decision to revoke approval for its $4.7 billion offshore gas project because Tiwi Islanders were not properly consulted about the project.
Mining company Quantum Graphite has filed proceedings against accounting firm Grant Thornton over a 2020 report that caused the Australian Stock Exchange to suspend trading in the mining company’s securities for 14 months.
A judge has cut a funder’s commission by 33 per cent after approving a $20 million settlement in a sham contracting class action against telco contractor BSA Limited, finding that funders should receive “significantly lower” payouts in employment cases.