Events

The High Court has granted ASIC special leave to appeal a judgment that let a former director of Gold Coast finance company MFS Group partially off the hook for $147.5 million in misappropriated funds, after ASIC argued the High Court should intervene to clarify the scope of the word "officer" under the Corporations Act.

The High Court has agreed to take up an appeal by mining giant BHP Group Limited in its battle with the Australian Tax Office over an $82M tax bill.

The writing may be on the wall for common fund orders in class actions that put all unregistered group members on the hook for a litigation funder's commission, after the High Court agreed Wednesday to take up landmark challenges by Westpac and BMW, experts say.

The High Court has upheld an appeal by a mortgage broker with a history of run-ins with the law, finding that the Administrative Appeals Tribunal could not take spent convictions into account when reviewing ASIC ban orders.

The High Court has granted applications by Westpac and BMW to weigh in on the validity of common fund orders made in class actions, a decision that could have major ramifications for the way representative proceedings are funded.

The Bank of Queensland has criticised a judgment which found the bank's insurance policy left it on the hook for a $6 million settlement of a class action brought by investors in a multi-million dollar Ponzi scheme by jailed fraudster Bradley Sherwin.

A battle over expert evidence in an invester class action against Fitch Ratings has delayed this month's scheduled trial in the case by three months and forced the court to send the parties' experts into conclaves.

The High Court has sided with Gina Rinehart in relation to a dispute with two of her children over billions of dollars in iron ore mining assets, saying the matter should be heard in arbitration.

Lawyers for Deloitte were questioned by an appeals court Monday after arguing that the accounting giant's partners had no access to the firm's files, stored in a locked "litigation room", and no power to hand them over to comply with discovery orders in a shareholder class action over the collapse of client Hastie Group.

Banking giant Westpac has criticised the Australian Securities and Investments Commission's old fashioned approach to home loan serviceability, saying its own complex system is more efficient and would "pass muster" in the face of the regulator's allegations that it breached responsible lending laws.