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Law firm investigating expanded Crown class action amid anti-money laundering probe
Class Actions 2020-10-23 10:23 pm By Christine Caulfield Melbourne
Maurice Blackburn is looking at potentially expanding its shareholder class action against Crown Resorts after it emerged at the NSW gaming authority inquiry that the casino giant may have breached anti-money laundering laws.
CBA fined $150,000 for increasing problem gambler’s credit card limit
ASIC 2020-10-23 5:30 pm By Miklos Bolza Sydney
The Commonwealth Bank of Australia has been fined $150,000 after a Federal Court judge found the bank had breached the law by increasing a problem gambler's credit card limit but that the conduct was "not systematic, deliberate or covert".
Judges unclear about Johnson & Johnson unit’s arguments in pelvic mesh appeal
Appeals 2020-10-23 2:57 pm By Miklos Bolza Sydney
A judge due to hear a high profile appeal by Johnson & Johnson unit Ethicon has expressed confusion about the grounds on which the medical device maker is challenging a landmark judgment putting it on the hook for potentially hundreds of million of dollars in damages over faulty pelvic mesh implants.
Ernst & Young can’t rely on privilege against self-incrimination in LM Investment lawsuit
Accounting 2020-10-22 9:12 pm By Miklos Bolza Sydney
A judge has found that auditor Ernst & Young cannot rely on the privilege against self-incrimination in a lawsuit brought over its audits of failed financial services firm LM Investment Management.
AUSTRAC’s record $1.3B penalty for Westpac’s money laundering breaches wins court OK
Allens 2020-10-21 2:50 pm By Christine Caulfield Melbourne
A judge has given the greenlight to AUSTRAC's $1.3 billion penalty against Westpac over the bank's 23 million breaches of money laundering and counter-terrorism laws, the biggest regulatory fine ever paid by an Australian company.
‘You need to pick your game up’: Judge dresses down lawyer of Zarah Garde-Wilson in Google review case
Defamation 2020-10-21 1:50 pm By Miklos Bolza Sydney
A solicitor who failed to respond to calls from the Federal Court has been criticised by a judge for filing what appeared to be a "deficient" application in a case run on behalf of gangland lawyer Zarah Garde-Wilson in her bid to obtain details from Google over the identity of an online reviewer.
Contradictor in 7-Eleven class action backs court’s power to make CFOs
7-Eleven 2020-10-20 3:51 pm By Miklos Bolza Sydney
A contradictor appointed in two class actions against 7-Eleven will argue before the Full Federal Court that the court has power both in equity and under the Federal Court of Australia Act to make common fund orders in class actions on settlement or judgment.
AIG settles case against ex-Kaboko Mining directors after D&O policy exclusion spat
AIG 2020-10-20 1:06 pm By Cat Fredenburgh Melbourne
AIG has settled a lawsuit brought by Kaboko Mining against several former directors alleging they failed to exploit commercial opportunities, after the insurer failed to convince an appeals court that an insolvency exclusion in the company's D&O policy should exempt it from covering the claims.
In partial win for QBE, judge pares back ANZ add-on insurance class action
ANZ 2020-10-20 9:36 am By Christine Caulfield Melbourne
A judge has sided in part with QBE Insurance and pared back a class action over allegedly worthless add-on insurance sold by ANZ to credit card and personal loan customers.
Judge fines NAB $15M, questions ASIC’s ‘introducer’ investigation
Amelia Avery-Williams 2020-10-19 6:01 pm By Miklos Bolza Sydney
A judge has slapped National Australia Bank with a $15 million penalty over its scandal-ridden home loan introducer program but slammed ASIC's investigation into the program, saying there was no "real regulatory desire to pursue a thorough investigation as to what in truth occurred".