The Commonwealth Bank of Australia is open to a proposal to consolidate two shareholder class actions filed over alleged breaches of anti-money laundering and counter-terrorism laws, but will address any “devil in the details”, a lawyer for the bank told a court Tuesday.
A judge has shot down a last minute bid by an insurance brokerage facing a cross claim in a class action over failed debenture issuer Provident Capital to retract an admission in its defence ahead of trial next month.
The Commonwealth Bank of Australia is seeking to strike out portions of a shareholder class action over allegedly lax anti-money laundering and anti-terrorism financing controls it calls a “vague penumbra” that leaves the bank in the dark about the case against it.
IOOF subsidiary Australian Executive Trustees wants to expand the cross-claim it filed against insurance broker Willis Australia in the class action over the collapse of Provident Capital, two weeks after AET agreed to fork over $44.25 million to settle the matter.
Optus can hang on to its Optus trade mark for marketing and advertising services, after successfully challenging a ruling that the mark should be deregistered for non-use in those areas.
The judge who stayed two of three competing class actions against logistics software company GetSwift wants to square away a common fund order in the winning case before an appeal of his ruling is heard, over the protests of the appealing law firms.
A lawyer for the University of Sydney has attacked ObjectiVision for failing to produce any commercial benefits from the glaucoma detection method at the centre of a patent infringement dispute, despite holding exclusive rights to the technology for 11 years.