National Australia Bank and HSBC should be “jointly and severally liable” to pay a portion of the costs of a failed case brought by Dick Smith’s receivers against the company’s former directors because the banks stood to gain financially if the lawsuit was successful, the NSW Supreme Court has heard.
The Finance Sector Union is preparing a lawsuit against the National Australia Bank, claiming the bank has pressured its employees to work “unreasonable” hours and underpaid its staff.
The applicant in a class action against NAB superannuation trustee NULIS has lost his bid to have a judge determine aggregate damages at an initial trial.
The Australian Competition and Consumer Commission has given the green light to the National Australia Bank’s proposed $1.2 billion acquisition of Citigroup’s Australian consumer business, finding the deal is not likely to substantially lessen competition.
The criminal case brought by Victoria’s new employment watchdog against the NAB should take precedence over the bank’s case, which challenges the Wage Inspectorate’s interpretation of the Fair Work Act and has now dragged NSW into the fray, a court has heard.
The National Australia Bank is seeking an urgent declaration regarding the interpretation of the Fair Work Act, four days after the Wage Inspectorate of Victoria accused it of failing to pay former employees their long service leave entitlements.
The Federal Court has issued an arrest warrant for Forum Finance founder Bill Papas for contempt of court for allegedly transferring $720,000 out of one of his companies in breach of a freezing order.
A former financial planner found to have engaged in a data breach at National Australia Bank will have her adverse action lawsuit against the bank partially reheard after an appeals court found the judge who tossed the case failed to properly consider why she was fired.
Dick Smith’s former CFO will appeal a $43 million judgment in favour of National Australia Bank over his role in the retailer’s collapse.
A $78 million class action against National Australia Bank and Walton Construction seeking compensation for sub-contractors after the company’s collapse has halted as lawyers scramble to comply with the managed investment scheme requirements for funded class actions implemented by the Morrison government.