A court has given Goodman Fielder the green light to reopen its breach of contract case against GrainCorp to submit further evidence on potential damages.
Seven car makers defending class actions over defective Takata airbags have confirmed they will not be challenging a landmark decision that set aside a pre-settlement class closure order in the cases.
The developers behind the Governor Place residential complex in Canberra have reached a settlement in a class action by aparment owners seeking $6.3 million in GST payments on their units.
An individual claimant accusing AMP Financial Planning of ignoring multiple attempts to gain remediation for alleged insurance re-writing conduct was granted permission to voice his displeasure in court, while ASIC and AMP grapple with the details of a remediation program for insurance churn victims.
The Federal Court has imposed a penalty of almost $5.2 million on AMP Financial Planning after finding it was “reckless” in its “lamentable failure” to properly respond to a now banned adviser who was churning life insurance for higher commissions.
The property developers behind two Canberra apartment complexes have been dealt a partial loss in two class actions against them, with a judge finding the developers misled the lead applicants about the GST payable on their units but that only some of them were entitled to compensation or restitution.
The applicants in a group of class actions over defective Takata airbags are pushing ahead with a challenge to the power of the NSW Supreme Court to issue class closure orders in the aftermath of a High Court decision shooting down common fund orders, a fight that could send the cases back to the High Court.
The judge overseeing seven class actions against some of the world’s largest car makers over defective Takata airbags has ordered that class closure take place in advance of mediation, saying it was “time…for commercial reality to bite”.
A judge has given the thumbs up to AMP’s new program to identify and compensate victims of so-called insurance churning by its financial planning arm after inadequacies were revealed in the original scheme.
The Australian Securities and Investments Commission has asked a court to impose penalties of up to $36 million on an AMP subsidiary for failing to take reasonable steps to stop its representatives from churning life insurance policies.