Westpac has released further details of its fraud claim against Bill Papas, founder of the Forum Group of Companies, painting a picture of an elaborate scheme to misappropriate $254 million to buy real estate, jewellery, luxury cars, racehorses and European football teams.
Westpac has told the Federal Court it has “grave concerns” about Forum Group founder Bill Papas’ evidence of his assets, contained in affidavits lodged on Thursday after weeks of non-compliance with a judge’s orders.
The director of the Forum Group companies accused of a $360 million fraud involving at least three major banks can’t return to Australia from Greece because he has COVID-19, his lawyer has told the Federal Court.
A judge has awarded $43 million to National Australia Bank in its lawsuit against former directors of failed retailer Dick Smith, but threw out claims against company directors brought by HSBC and the retailer’s receivers.
A judge has urged parties in a class action against Westpac over superannuation fees to hold an in-person mediation, saying that success rates have “plummeted” during the COVID-19 pandemic as more settlement talks are held virtually.
Thousands of Indonesian seaweed farmers have won a class action against PTTEP Australasia over one of Australia’s largest oil spills, with a judge finding the oil exploration company breached its duty of care to the farmers and damaged their livelihoods.
In another victory for ASIC in a case stemming from the banking royal commission, a judge has ruled that TAL Life Limited breached the Insurance Contracts Act after denying coverage to a cancer patient and threatening to recover $24,000 it had already paid to her.
A judge has refused to summarily dismiss proceedings brought by the ACCC against office supply company Fuji Xerox over allegedly unfair contracts with small businesses.
A judge has sided with five investments banks and rejected a bid to amend a class action alleging a series of cartel agreements to rig foreign exchange rates, saying there were “substantial problems” with the proposed pleadings.
The judge overseeing a class action against Westpac over superannuation fees has criticised costly discovery processes that produce a “tsunami of material”, most of which is never used at trial.