A shareholder class action against Vocation that has spanned five years and spawned multiple cross claims against the failed training company’s auditor, law firm and individual directors, has reached an in-principle settlement.
Virgin Australia has been ordered to return four jet engines to the United States, after a court found the embattled airline and its administrators failed to properly hand over the engines and other equipment to their owners.
International hip-hop star Jay-Z has quietly settled his spat with Australian children’s book manufacturer The Little Homie for what his lawyers called “flagrant, glaring and contumelious” intellectual property infringement.
The Australian Securities and Investments Commission spent over $1.8 million in taxpayer funds investigating and prosecuting its now failed responsible lending case against Westpac.
Westpac anti-money laundering compliance troubles continue to worsen, with the bank reporting an additional 365,000 incomplete or inaccurate threshold transaction reports to AUSTRAC.
Facing accusations of being a “litigation bounty hunter”, litigation funder Augusta Ventures has made its bid before the Full Federal Court to overturn a landmark ruling which put it on the hook for $3.1 million in security in two Fair Work class actions.
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”.
ASIC has launched court proceedings against Melbourne-based foreign exchange and derivative trader Forex CT alleging it engaged in unconscionable sales tactics that led to hundreds of thousands of dollars in investor losses.
Westpac has denied claims in a shareholder class action filed in the wake of AUSTRAC proceedings alleging 23 million breaches of anti-money laundering and counter-terrorism finance laws, saying the information the class action says it should have disclosed to shareholders “did not exist”.
Virgin Australia unsecured bondholders contesting the sale of the embattled airline to private equity firm Bain Capital have failed in their bid to access confidential transaction documents, but a judge has urged the administrators to communicate with the frustrated creditors.