A class action over the collapse of Walton Construction has argued the National Australia Bank cannot shield communications with Norton Rose Fulbright and Deloitte because they were made to further a fraud or otherwise had an illegal or improper purpose.
A judge has refused American International Group’s bid to withdraw an admission that directors of defunct advisory firm Linchpin Capital were covered under a D&O policy in an investor class action that has settled against everyone but the insurer.
ANZ has told a court it had no obligation to disclose a $750M bailout by the underwriters of a $2.5B equity capital raising in 2015, in ASIC’s case alleging the bank breached its continuous disclosure obligations by failing to alert the market to the bailout.
The High Court has been asked to weigh in on whether online ads targeting Australian consumers can be the basis for a trade mark registration, in a long-running intellectual property spat between the maker of Mother Energy drinks and Vittoria Coffee over their respective ‘mother’ marks.
A senior ANZ executive was “deeply concerned” by the size of the shortfall in its $2.5 billion 2015 equity capital raising, the court heard on the first day of trial in ASIC’s civil penalty case against the bank over alleged disclosure breaches.
A court has wound up Ascent Investment and Coaching, after ASIC filed proceedings against the company and director Michael Dunjey over concerns that investor funds may have been improperly dealt with.
A judge has found that lead plaintiffs in a class action by commercial fishing operations against Gladstone Ports can bring new claims out of time, saying it would be “grossly inconsistent” if group members had broader limitation relief than representative parties.
The High Court has agreed to hear the appeals of two former Dick Smith exes following judgments that awarded a total of $55 million in damages to NAB and the receivers of the defunct electronics retailer.
The competition and consumer regulator is examining how banks set interest rates on savings accounts and why they are not in line with the Reserve Bank’s cash rate increases, as part of an inquiry launched in February.
The High Court has rejected investment group Mayfair 101’s bid to challenge a $30 million penalty following a judge’s finding that it misled investors about the risk profile of its financial products.