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Westpac, Macquarie and ANZ are seeking class closure orders ahead of mediation in three class actions over flexible commissions schemes, telling a court hearing they will be “completely at sea” without a better idea of the class size.
A law firm has won its second bid for a group costs order in three class actions against banks over flexible commission schemes after a judge in 2021 rejected what was then the first-ever application for a contingency fee.
Maurice Blackburn has had a second crack at a group costs order in three class actions against banks over alleged flexible commission schemes after a judge in 2021 rejected what was then the first-ever application for a contingency fee.
Dozens of Macquarie advisers who previously won a $330,000 payday against the bank have been ordered back to court for a rehearing of their long-running case over employment entitlements.
Macquarie Bank has denied liability for a financial adviser’s theft of $2.9 million in customer funds, which the Australian Securities and Investments Commission alleged was caused by the bank’s failure to monitor third-party withdrawals.
A former Nuix director appointed by Macquarie Bank must give evidence in person as the embattled tech company argues a claim brought by its former CEO is off by $140 million.
Macquarie Leasing has been let off the hook in a class action alleging that a flex commissions scheme by ANZ’s former car finance business encouraged dealers to set car loan rates far in excess of base rates in exchange for large kickbacks.
Macquarie Leasing has hit back at a class action over alleged unfair flex commission arrangements with car dealers, saying dealers were not required to propose high interest rates as part of the scheme and that customers were not forced to accept them.
The corporate regulator has filed court proceedings against Macquarie Bank alleging it failed to monitor third-party withdrawals, leading to a financial adviser's theft of $2.9 million in customer funds.
The Australian managing partner of King & Wood Mallesons, Evie Bruce, is set to join Macquarie Group as its next group general counsel and head of the legal and governance group, where she will lead a team of 400 lawyers and governance professionals.