Brisbane fintech Sniip Limited has filed a lawsuit against American Express Australia, claiming millions in damages after the payments giant allegedly breached a contract to provide card members with BPAY bill payments services.
Two former executives at Fuji Xerox’s Australian unit have settled a lawsuit over their roles in a $450 million accounting scandal that has also ensnared auditor Ernst & Young.
Fired underwriter Greg Brereton has been granted an extension to respond to lawsuits targeting Insurance Australia Group over trade credit policies covering $4.6 billion in loans issued by collapsed Greensill Capital.
The largest shareholder in payday lender Nimble has lost its challenge to a decision blocking it from accessing company documents about an impending debt refinance, with an appeals court finding the investor’s concerns had “an air of commercial unreality”.
A class action on behalf of former clients of collapsed wealth manager Dixon Advisory has filed a court bid for information on any insurance policy held by the business that might cover the mammoth claims, estimated to be worth between $278 million and $463 million.
The Australian Securities and Investments Commission will not seek to enforce a $7.2 million penalty agreed to by Dixon Advisory after admitting to the regulator’s allegations that it failed to act in its clients’ best interests.
The lead auditor for Big Un’s flawed 2017 independent audit, which overstated the failed video company’s cash and cash equivalents by $8.2 million, has been convicted of failing to comply with auditing standards following an investigation by ASIC.
Bell Potter has defeated a lawsuit by Nicholas Bolton’s Keybridge Capital over a 2015 phone call which lasted one minute and 18 seconds in which the investment firm was accused of committing its client to buy $10 million worth of shares in defunct Molopo Energy.
The corporate regulator will challenge a bid by payday lenders Cigno and BHF to stay its case pending their appeal to the High Court.
Investment firm Curve Securities is suing competitor Ord Minnett and a former associate director, alleging the defecting adviser solicited its clients and misused confidential information.