A judge has panned ASIC’s bid to discover a wide range of privileged communications between super fund REST and various legal advisers, finding the regulator used a “very wide net” to catch nothing at all.
Industry fund Maritime Super has been fined $26,640 by the corporate regulator for allegedly misleading members about the impact of its partnership with superannuation fund Hostplus.
Accounting giant KPMG has resolved a lawsuit brought by a principal director who alleged he was told to “change and adjust” to “belittling” attacks by a partner on the debt advisory team.
A judge has approved a 40 per cent group costs order for the law firm that’s running a class action against KPMG and former directors of collapsed mining company Arrium, the highest approved since the state began allowing lawyers to earn a cut of class action awards.
A judge on Friday slugged Westpac with a $40 million penalty for charging advice fees to over 11,800 dead customers in the last of six cases brought by the corporate regulator, taking the total to be paid by the bank to $113 million.
A judge has expressed doubts over Colonial First State’s plan to pass on part of its duties to the ATO in distributing a $56.3 million settlement secured by customers in a Maurice Blackburn-led class action.
Macquarie Leasing has hit back at a class action over alleged unfair flex commission arrangements with car dealers, saying dealers were not required to propose high interest rates as part of the scheme and that customers were not forced to accept them.
Deloitte and Noumi, formerly known as Freedom Foods, have pointed the finger at one another in a consolidated shareholder class action, with the accounting giant saying the food company made misleading representations in its financial reports and should be on the hook for its costs in defending the lawsuit.
A judge has approved $32 million in penalties against Westpac in two cases brought by the corporate regulator accusing the bank of misleading thousands of “vulnerable” customers about their debts and failing to manage the accounts of deregistered companies.
A former Deloitte director accused of embezzling $3.1 million to fund lavish purchases, including an extensive art collection, has been referred to police and suspended by an association for Australian restructuring professionals.