Three syndicates of Lloyd’s London have failed in their bid to toss a case brought by National Australia Bank seeking £357 million ($655 million) in insurance claims relating to two consumer redress schemes in the UK.
A former BlueScope global health and safety manager wants to add an indirect gender discrimination claim to his employment case against the steel giant, alleging he was overlooked for a senior role because the company wanted to fill its diversity quota.
The prudential regulator is standing by its decision to bring proceedings against IOOF for alleged breaches of superannuation duties, despite criticism that such a “highly litigious regulatory environment” is placing immense pressure on financial services executives.
The CEO of Sydney’s 2GB and Melbourne’s 3AW radio stations, Adam Lang, has sued the publisher of the Sunday Telegraph for defamation over articles he claims portrayed him as an incompetent, sadistic executive who created a toxic work atmosphere.
APRA’s purely documentary case against troubled fund manager IOOF has been dismissed by the Federal Court as “unpersuasive”, “fundamentally inadequate” and “tenuous in the extreme”, in another major blow to financial services regulators pursuing action in the wake of the banking royal commission.
Australian rail freight operator Aurizon has launched a lawsuit against US-based shortline railroad firm Genesee & Wyoming seeking damages over the impending sale of its Australian assets.
The ABC is challenging a court ruling last month that rejected its bid to access documents behind the Australian Federal Police’s warrant to search its headquarters and partially blocked an application to amend claims in its case over the legality of the raid.
Pharmaceutical company Generic Health has told the Federal Court that, on advice from their solicitors, Otsuka and Bristol-Myers Squibb “deliberately” chose not to disclose their reasons for an admission in a long-running patent case over the anti-psychotic drug Abilify, which they are now seeking to withdraw.
Five IOOF executives will learn their fate this week when a judge rules on a disqualification bid by the prudential regulator, the first judgment to be delivered by a court in a case filed in the wake of last year’s scandal-airing banking royal commission.
Facebook has come out against some of the competition watchdog’s recommendations in its final digital inquiry report and warned against the risk of pandering to powerful Australian media companies with regulation aimed at reining in rivals.