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ASIC has locked horns with a Federal Court judge over his proposal to appoint an independent referee in its case against AMP over insurance rewriting, with the regulator arguing the move would lead to delay and duplication of costs.
A Federal Court judge that threw out a consumer class action against MyBudget has denied the budget management company's bid for costs, finding the case was brought in the public interest.
The funder underwriting a class action against Westpac will take a 25 percent cut of the net -- not gross -- recovery sum to secure a judge's approval of a common fund order in the case.
A judge has signed off on a $3.5 million settlement in a case brought by the consumer watchdog against Equifax Australia, with the credit reporting company admitting it made misleading claims in selling paid credit packages to vulnerable consumers.
AMP's financial planning unit has shot back at allegations by the corporate watchdog that a group of planners engaged in so-called life insurance rewriting, admitting only that one of its army of advisers broke the law.
A judge has agreed to sign off on an order in a massive class action against Westpac that could give 25 percent of any recovery to the litigation funder underwriting the case, on the condition that the funder accept a rate reflecting the net, not the gross, sum.
MyBudget has successfully fought off a class action brought by consumers who claimed the budget management firm violated consumer law by holding onto interest earned on their personal budgeting accounts.
Bodum, maker of the popular glass French press coffee maker, has sued an Australian company for allegedly copying the design and getup of its iconic device, on the heels of winning a $4 million judgment in the US over a copycat device.
The $92 million payout to two funders that financed the recently settled S&P Global class actions shows the need for continued scrutiny of litigation funding agreements, experts say, but whether it is a sign of windfalls to come or is a ghost of commission's past is another question.
Concerns that the proposed acquisition of Sirtex Medical by a Chinese private equity firm would leave the company with insufficient funds to cover a settlement or judgement in a class action were eased Wednesday, after a barrister said the takeover would leave the company with just under $1 billion in assets.