Convenience store giant 7-Eleven has lost its appeal of a $595,000 judgment handed down after a court found a franchisee signed a franchise agreement and invested almost $796,000 into a Melbourne store under false pretences.
Lawyerly’s Litigation Law Firms of 2022 racked up precedent-setting victories in a year that continued to see major developments in class action law.
The Commonwealth Bank of Australia has urged the Full Court to toss ASIC’s challenge to a decision dismissing its conflicted remuneration case over the bank’s sale of its Essential Super product, saying the appeal suffered from “fatal” flaws.
GetSwift has been hit with a $15M penalty and several of its directors have been slapped with substantial penalties after the company was found to have misled shareholders in breach of the Corporations Act.
A judge has grilled the former general counsel of defunct logistics company GetSwift about why he did not confront the company’s directors for “bullying” other executives when they raised concerns about alleged continuous disclosure breaches.
The Australian Securities and Investments Commission has filed an appeal after a judge dismissed its case alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, finding it was “misconceived”.
The Australian Securities and Investments Commission has suffered a defeat in proceedings alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, with a judge finding the regulator “ignored the circumstances” in which the product was distributed.
Lighthouse Corporation was holding “a gun to the head” of the court in seeking to adjourn a $480,000 bid for security in a dispute with East Timor over $328 million in alleged losses from a failed fuel supply agreement, a judge has said.
A judge has approved $32 million in penalties against Westpac in two cases brought by the corporate regulator accusing the bank of misleading thousands of “vulnerable” customers about their debts and failing to manage the accounts of deregistered companies.
A judge has signed off on a $20 million penalty against Westpac subsidiary BT Funds Management for improperly charging 9,000 members insurance premiums that included commissions to financial advisers, a practice that was banned in 2013.