A judge has questioned AMP Financial Planning over whether it breached court orders to compensate customers after finding the firm failed to prevent a now banned adviser from churning life insurance for higher commissions.
A judge has raised concerns that AMP Financial Planning has not compensated customers for allegedly failing to prevent life insurance churning, directing the firm to explain the “vanishingly small” number of people who have been remediated.
Hospitality giant Merivale has streamlined its defence of a $129 million underpayment class action, arguing that it shouldn’t be expected to back pay employees because it operated its business under the mistaken belief that its enterprise agreement governing staff at 70 of its venues was valid.
Adani’s controversial Carmichael coal mine in Queensland has hit another potential snag, with the Federal Court on Tuesday sending the company’s moves to pump 12.5 billion litres of water a year from the Suttor River back to square one.
The judge hearing an underpayments class action against hospitality company Merivale has found the workplace agreement that covered the group members was not validly approved.
A former executive of engineering giant Bechtel will be allowed to deduct over $11.8 million in share losses from his taxable income after successfully challenging a ruling to the Full Federal Court, in a decision that clarifies taxation law for income and capital regarding asset trades.
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.
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.