Sydney’s Star Casino is taking its insurers to court in a bid to claim the losses it has suffered as a result of Government restrictions enacted to stop the spread of COVID-19.
Westpac anti-money laundering compliance troubles continue to worsen, with the bank reporting an additional 365,000 incomplete or inaccurate threshold transaction reports to AUSTRAC.
ASIC has called for a $15 million penalty against National Australia Bank over its scandal-ridden ‘Introducer’ loan referral program, but a judge has questioned the “superficial” investigations in the case and remarked on the corporate regulator’s “pattern” of bringing enforcement action after remediation programs were well underway.
A judge has warned AUSTRAC that it needs to finalise its case against Westpac over anti-money laundering breaches as the regulator readies a slew of new claims, quashing any hopes of a trial this year.
The Full Federal Court has thrown out the ACCC’s challenge to a ruling dismissing its case alleging Kimberly-Clark made misleading representations about its flushable wipes.
Westpac is facing the possibility of more claims in proceedings brought by AUSTRAC over anti-money laundering breaches, with the regulator seeking information on 272 customers who may have been involved in the exploitation of children.
The judge overseeing three class actions against the Commonwealth over its use of allegedly toxic firefighting foam, which have settled for $212.5 million, said backing by a litigation funder led to a better outcome for group members, who would otherwise have been in the disadvantaged position of “supplicants requesting compensation”.
Westpac has admitted to millions of breaches of anti-money laundering and counter terrorism financing laws, and has told a court it did not adequately monitor transactions of customers linked to child exploitation.
A court has dismissed a claim by the Australian Government for $325 million against pharmaceutical companies Sanofi and Bristol-Myers Squibb allegedly owed for excess subsidies it paid for blood-thinner Plavix as a result of an interlocutory injunction blocking a generic version of the blockbuster drug.
Westpac is still locked in mediation with AUSTRAC over allegations that it committed over 23 million breaches of anti-money laundering and counter-terrorism financing laws, with the bank’s hopes of moving to a penalty hearing in the early part of the year fading.