While CBA’s defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.
The Commonwealth Bank of Australia knew about a “catastrophic” code error that caused widespread non-compliance with money laundering rules two years before it was disclosed to the market, a court has been told in a rare shareholder class action trial.
The Commonwealth Bank of Australia faces trial Monday in one of several class actions filed against a major Australian company in recent years over allegedly lax money laundering practices and disclosures.
The law firm that secured a $44.5 million settlement in a class action against Woolworths has won its full $14.5 million in costs, with a judge tossing the report of the referee he appointed to examine the fees, which he said appeared double what they should be.
Two former executives of defunct electronics retailer Dick Smith have asked the High Court to hear their challenge to a $11.8 million damages award for approving a dividend payment the company could not afford.
The High Court will take up Meta’s challenge to the privacy commissioner’s case over the Cambridge Analytica data breach, giving the court the chance to rule on the jurisdictional reach of Australian regulators in their pursuit of US tech giants.
An appeals court has refused a bid by Bianca Rinehart and John Hancock to block an arbitrator from deciding a long-running dispute over valuable mining assets, despite his wife having acted for Gina Rinehart in related proceedings.
The High Court has agreed to weigh in on whether government restrictions on social gatherings during the COVID-19 pandemic frustrated a $11.25 million contract for sale of a hotel in the Sydney suburb of Pyrmont.
Irish insurer Zurich Insurance has refused consent for a class action over a defective New Zealand apartment block to proceed in the NSW Supreme Court as it mulls a High Court challenge to the case.
Irish insurer Zurich Insurance has lost its appeal seeking to shut down a class action filed against it in the NSW Supreme Court over a defective New Zealand apartment block.