Two Commonwealth Bank of Australia subsidiaries have denied that they owed fiduciary duties to group members in a class action over allegedly excessive insurance premiums pushed onto customers because of commissions and other benefits to financial advisors.
Two special purpose liquidators appointed to collapsed engineering and construction company Forge Group are investigating a potential lawsuit against KPMG, which audited the doomed business prior to its $800 million collapse in 2014.
The Federal Court has approved a $14.6 million class action settlement with private training company Ashley Services, auditors Deloitte and Grant Thornton, and Holmes Management Group, with IMF Bentham set to pocket around $4.8 million for funding the litigation.