The High Court has awarded $27 million in unpaid commissions to a Nigerian entrepreneur tricked into terminating his contract with international bank note manufacturer Securency, reversing a Full Court judgment which slashed his award.
ASIC has dropped its fight with Westpac over the bank’s financial assessment of home loan borrowers following political pressure, citing the “challenging economic circumstances”.
The former directors of defunct financial advisory firm Storm Financial have failed in their appeal of a ruling that found they breached their duties to eleven vulnerable investors by providing a one-size-fits-all model of investment advice that was inappropriate.
The High Court has shut down a lawsuit by mortgage aggregator Connective Services over the transfer of one third of the company’s shares after finding the proceeding prejudiced shareholders and contravened the Corporations Act.
Coal producer Glencore International has lost its High Court appeal to keep the Australian Taxation Office from reviewing documents related to its offshore assets, which were unearthed as part of the global Paradise Papers investigation.
The Australian Competition and Consumer Commission has won its bid for a year’s worth of financial statements from Viagogo, after successfully arguing the online ticket reseller’s financial position was needed to determine an appropriate penalty for its violations of the Australian Consumer Law.
The High Court has unanimously upheld the validity of the Australian Public Service code of conduct, after a former public servant mounted a freedom of speech challenge after being sacked for anonymously tweeting thousands of critical comments about government immigration policy and members of parliament.
The High Court of Australia has resolved a nearly 40-year old question of whether employees of a failed company established as trustee of a trading trust have priority over ordinary unsecured creditors.
The Australian Securities and Investments Commission has narrowly lost its High Court appeal of a ruling that found the owner of a South Australian outback general store had not acted unconscionably by selling used cars through a “book-up” system.
The High Court will not review an appeals court’s decision to approve a $64 million settlement in litigation over the failure of Banksia Securities while rejecting the funder’s commission and legal fees.