Most Recent
Applicant, funder must foot the bill for slew of cross-claims in dropped Pitcher Partners class action
Andrew Roe 2021-03-04 12:34 pm By Cat Fredenburgh Melbourne
A judge has found the lead applicant and funder in a discontinued class action against Pitcher Partners over its auditing of Slater & Gordon must pay the bill for the flurry of cross-claims brought in the proceeding, but has rejecting the accounting firm's argument that its costs should be paid on an indemnity basis.
Law firms await beauty tips as High Court set to rule on competing class actions
Adam Hochroth 2021-03-03 10:43 pm By Christine Caulfield Melbourne
The High Court has set a date for handing down its keenly anticipated judgment in a case that challenged the winner of a beauty contest of class actions against AMP, a decision expected to offer guidance on how courts should tackle the so-called multiplicity problem.
Court won’t save Greensill from ‘catastrophic’ expiry of $4.6B insurance policy
Adam Hochroth 2021-03-02 11:27 pm By Christine Caulfield Melbourne
Embattled financial services firm Greensill Capital has lost an emergency bid for a temporary mandatory injunction that would have forced its insurer to renew trade credit policies covering $4.6 billion in client loans as it fights to avoid collapse.
ASIC accuses REST of deceiving members over super fund transfers
Albert Ounapuu 2021-03-02 9:48 pm By Christine Caulfield Melbourne
The Australian Securities and Investments Commission has brought court action against Retail Employees Superannuation, alleging the super trustee may have misled members about their ability to move their super out of the REST Trust.
Financial adviser drops defence in ASIC’s bad advice case against IOOF unit
Caroline Kenny 2021-03-02 3:00 pm By Christine Caulfield Melbourne
A former financial planner of IOOF unit RI Advice, who has been accused by ASIC of pocketing hefty commissions from clients steered to risky investments, has abandoned his defence on the second day of trial.
Fair trial may not be possible for adviser targeted by ASIC in IOOF unit case, court told
ASIC 2021-03-01 9:57 pm By Christine Caulfield Melbourne
A financial adviser at the centre of ASIC's bad advice case against an IOOF unit might mount an argument that a fair trial is not possible because of his "fulsome" answers to investigators during a compulsory examination.
CBA broker subsidiaries admit ‘systemic compliance failures’ as ASIC launches new case
ASIC 2021-03-01 6:10 pm By Miklos Bolza Sydney
ASIC has launched court action against two Commonwealth Bank of Australia subsidiaries that have admitted multiple "systemic compliance failures", including the overcharging of more than $4.3 million in brokerage fees.
ASIC proves prescient with failure of mediation on eve of IOOF trial
ASIC 2021-02-26 9:52 pm By Christine Caulfield Melbourne
ASIC's warning about the futility of mediation with an IOOF subsidiary has proved prophetic, with talks last week failing to resolve the regulator's case ahead of trial starting Monday.
National law firm sued by sacked ANZ trader, accused of withholding client file
ANZ 2021-02-26 1:43 pm By Miklos Bolza Sydney
A sacked ANZ trader who alleges he was fired after making complaints about rate-rigging at the bank has sued his former law firm for allegedly withholding documents needed to amend his case against the big four bank.
Remains of accused con artist Melissa Caddick found on NSW South Coast
ASIC 2021-02-26 9:38 am By Christine Caulfield Melbourne
Police have identified human remains found on a beach on the NSW South Coast as Sydney businesswoman Melissa Caddick, who has not been seen since November.