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The Australian Securities and Investments Commission has filed an appeal after a judge dismissed its case alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, finding it was “misconceived”.
Queensland crane company NQCranes has agreed to pay a $1 million penalty in the Australian Competition and Consumer Commission’s case alleging it engaged in a conspiracy with a multinational rival to divide the Brisbane and Newcastle markets.
Insolvency practitioners are holding their breath as the High Court hears a case that could abolish a key rule used by liquidators in recouping payments to unsecured creditors at a time when the industry is bracing for a possible recession.
Equity Trustees has sued asset manager Tactical Global Management seeking millions in compensation for losses allegedly stemming from over-hedging trades.
Investors in Mayfair Group’s collapsed IPO Wealth Fund have clawed back only a fraction of their alleged $67 million losses after a judge approved a settlement in a class action alleging the fund’s trustee misled unit holders.
Teleco contractor BSA, which resolved a class action by its workforce for $20 million, won't be recouping the costs of legal action to exclude a $13 million capital raising from the settlement.
Investors in Mayfair Group’s collapsed IPO Wealth Fund are set to recoup only a fraction of their alleged $67 million losses in a best-case settlement of a class action alleging the fund’s trustee misled unit holders.
The Australian Securities and Investments Commission has suffered a defeat in proceedings alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, with a judge finding the regulator "ignored the circumstances" in which the product was distributed.
A judge has found that dairy processor Lactalis Australia breached a mandatory industry code between farmers and processors requiring it to publish milk supply contracts on its website.
A judge has ordered two Sydney roof tiling businesses and their directors to pay a total of $420,000 in penalties after making admissions in proceedings brought by the Australian Competition and Consumer Commission alleging they rigged bids for construction at the University of Sydney.