Former Solicitor-General Justin Gleeson, SC, told a Federal Court judge Wednesday to reject a proposed $35 million deal between ASIC and Westpac, saying the bank should pay at least $100 million if it committed the responsible lending breaches alleged by the regulator.
The NSW Supreme Court has approved a $44.25 million settlement of two class actions against the trustees of failed debenture issuer Provident Capital, including $12.8 million in legal fees for Slater and Gordon and $4.3 million for funder Litman Holdings.
Cash Converters has reached a settlement on the eve of trial in one of two consumer class actions alleging it engaged in unconscionable conduct by imposing high interest rates on short-term loans.
The litigation funder at the centre of a challenge by Westpac to the Federal Court’s power to make common fund orders faced a fiery judge in a tense exchange Friday, after it revealed it was weighing a bid to pause a class action against the bank until after the appeal.
PriceWaterHouse Coopers has received the green light to launch court action to pursue its cross claims against failed educational training company Vocation.
Creditors of the failed Arrium Group have won access to documents handed over by third parties to the company’s administrators for possible civil proceedings against the steel producer, which collapsed owing $2.3 billion.
A federal judge has lit a fire under the law firm leading the Westpac life insurance class action, saying if it wanted to apply for a stay while the bank appeals his common fund order, it should do so “immediately”.
The former CEO of a Victoria-based credit union has been hit with a criminal charge in relation to an ASIC probe into voting irregularities during a 2015 election for two company board seats.
A former mobile lender with the Commonwealth Bank of Australia will stand trial for his alleged role in a massive $170 million home loan fraud scheme that targeted Australia’s largest banks.
A Federal Court judge has ordered three individuals targeted in an ASIC lawsuit over binary option trading to pay $60,000 in contempt of court penalties for breaching court-imposed freezing orders.