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ASIC alleges AustralianSuper caused $69M in member losses
ASIC 2023-09-08 11:00 pm By Cat Fredenburgh

The corporate regulator has taken the country’s largest superannuation fund, AustralianSuper, to court for allegedly causing $69 million in losses to customers by failing to merge multiple superannuation accounts.

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Sydney MP claims aggravation from Mark Latham’s ‘disgraceful’ defamation defence
Article 2023-09-08 9:41 pm By Christine Caulfield

Independent Sydney MP Alex Greenwich, who is suing politician Mark Latham over a homophobic social media post, claims the One Nation NSW leader’s defence has aggravated his damages by relying on a “disgraceful” gay stereotype.

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Ben Roberts-Smith funder Seven says ruling on emails has ‘far reaching implications’
Arthur Moses 2023-09-08 2:56 pm By Sam Matthews

Former soldier Ben Roberts-Smith and Seven Network, which funded his defamation case, have asked for the Full Federal Court to weigh in on appeals against a decision requiring the production of thousands of emails passing between them, which the broadcaster said has implications for all funded proceedings.

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Hall & Wilcox grows by 30 with McMahon Clarke takeover
Business of Law 2023-09-07 11:37 pm By Christine Caulfield

Aiming to become the “undisputed market leader” in investment funds, Hall & Wilcox has brought on the team at boutique law firm McMahon Clarke.

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WA home builder to face class action over construction delays
Class Actions 2023-09-07 11:00 pm By Cat Fredenburgh

Perth-based homebuilder BGC Housing Group will face a class action on behalf of thousands of home owners who allege they have been harmed by lengthy construction delays.

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ME Bank pleads guilty to misleading borrowers, says crime didn’t hurt anyone
ASIC 2023-09-07 11:00 pm By Sam Matthews

Direct bank Members Equity has pleaded guilty to criminal charges over misleading representations to customers, but a judge has questioned the bank’s submissions in favour of a low penalty, noting it was only “happenstance” that a systems glitch didn’t lead to worse outcomes for customers.

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Swift Networks cops $1.2M penalty for rigging bids
ACCC 2023-09-07 10:57 pm By Cat Fredenburgh

Telco Swift Networks has been hit with a $1.2 million penalty for bid rigging and price fixing in the tender process for supplying IT and communications equipment for three Rio Tinto and Fortescue Metals mining projects in WA’s Pilbara region.

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High Court won’t disturb insurers’ win in Pacific Highway case
Appeals 2023-09-07 2:41 pm By Christine Caulfield

The High Court won’t hear an appeal in a case by Acciona and Ferrovial against three insurers over coverage for loss and damage resulting from heavy rainfall at the site of construction of the Pacific Highway in northern New South Wales.

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PayPal taken to court over 60-day deadline for complaints
ASIC 2023-09-07 12:54 pm By Sam Matthews

The corporate regulator has filed a suit against fintech giant PayPal over a term in its contracts with small businesses that sets a deadline for complaints about excess fees.

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ASIC wins case against digital lender Ferratum
ASIC 2023-09-07 11:41 am By Cindy Cameronne

The Australian Securities and Investments Commission has won its case against Finnish microloan company Ferratum alleging it overcharged vulnerable, low-income consumers during the height of the COVID-19 pandemic. 

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