Companies

The prosecution in a criminal cartel case against several banks and high-ranking executives over a $2.5 billion ANZ share placement has fought back against accusations that its indictment is "fundamentally flawed" and should be quashed.

Courts have power to order oral discovery of potential witnesses ahead of trial, according to the judge overseeing two 7-Eleven class actions by franchisees, but the cases against the convenience store giant were not the occasion to exercise the power, he said.

A judgment in a heated carriage fight between three class actions against construction giant Boral provides some guidance to law firms about conduct that could potentially compromise their case for why they should be crowned the victor in a class action beauty parade.

The Australian Securities and Investments Commission has taken the Commonwealth Bank of Australia to court for slapping nearly 1 million customers with unauthorised monthly access fees totaling $55 million over a nine-year period.

The law firm running its class action on a no win no fee basis has been crowned the winner in a battle against two competing firms to lead a shareholder class action against construction giant Boral, in the first such judgment handed down in the wake of a High Court ruling on competing class actions.

A judge has ruled that a former ANZ trader who alleges he was fired after complaining about rate-rigging at the bank can amend his lawsuit after separate proceedings that accuse law firm HWL Ebsworth of withholding his client file are resolved, saying the HWL documents could contain a "golden nugget".

Virgin Australia is facing legal action from the Transport Workers Union which says the airline was not experiencing the necessary work shortage when it stood down some of its ground crew staff after the federal government's Jobkeeper wage subsidy came to an end over the weekend.

Banking giant ANZ, which is facing a class action over a flex commissions scheme by its former car finance business, has admitted that the calculation of car dealers' commission was aimed at encouraging loans with interest above a "base rate".

A McDonald's franchisee accused of failing to give employees paid rest breaks has hit back at a lawsuit filed by the retail workers' union, arguing its employees took their entitled breaks, but sometimes in a "non-continuous" manner.

The ACCC has given the greenlight to NAB's proposed acquisition of digital only bank 86 400, saying the tie-up would not substantially lessen competition.