Most Recent
Insurance Australia Group is investigating the underwriter behind an allegedly unauthorised trade credit policy issued to Greensill Capital, according to a defence by the insurer in a $43 million case brought by a Credit Suisse supply chain fund left heavily exposed after Greensill's collapse.
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.
Wealth manager MLC Limited has admitted to violating the Corporations Act by failing to send overdue notices to policyholders over a 15-year period, but will defend the bulk of ASIC's claims in proceedings accusing it of causing $17.5 million in harm to over a quarter of a million consumers.
A judge hearing a superannuation class action against NAB unit NULIS Nominees will not determine the correct approach for calculating damages at an initial trial scheduled for later this year.
The Australian Securities and Investments Commission has dropped all but one claim against Rio Tinto in a four-year-long case over disclosures related to its troubled $5.8 billion acquisition of a Mozambique coal mining business and abandoned all claims against the mining giant's former CEO and CFO.
The law firm behind a consumer class action against Suncorp subsidiary AAI over add-on car insurance says notices to group members should not be sent until the case is ready for trial and the "information asymmetry" is corrected.
Aware Finance, formerly StatePlus, has been fined $20 million for charging over 25,000 customers approximately $50 million for services they did not receive.
Rio Tinto will face a penalty in proceedings brought by the Australian Securities and Investments Commission alleging the mining giant misled shareholders about the resources of a Mozambique mining company it acquired for $5.8 billion in 2011 and later offloaded for $70 million.
The applicant in a class action against NAB superannuation trustee NULIS has lost his bid to have a judge determine aggregate damages at an initial trial.
Two law firms are seeking court approval to drop class actions brought on behalf of allegedly misclassified casual coal miners, in light of a High Court decision that "radically" decreased their chances of success.