National Australia Bank is setting aside a further $1.18 billion to compensate customers for dodgy adviser service fees, consumer credit insurance sales, and non-compliant advice.
German-based 3A Composites has issued an ultimatum in the high-stakes combustible cladding class action against it, saying it will try to shut down the matter as a representative proceeding if group member registration and opt out are not initiated.
William Roberts Lawyers and a litigation funder are investigating potential claims by property purchasers and investors against Ralan Group after the developer entered administration and creditors were warned to “prepare for a poor outcome”.
3A Composites has slammed the pleadings in a class action against it over allegedly combustible cladding, questioning whether the stated common issues are actually common to all group members.
A judge overseeing competing class actions against AMP over allegedly excessive superannuation fees has signed off on an agreement by two rival law firms to consolidate their cases, avoiding a potentially costly and drawn out beauty parade.
AMP has added two law firms to separately represent its subidiaries in one of two class actions alleging it charged its superannuation members excessive fees.
German cladding manufacturer 3A Composites has denied that its cladding is unsafe and caused class members loss and damage, instead pointing the finger at unknown third parties and arguing the Federal Court does not have jurisdiction to hear the matter.
The Federal Government will introduce legislation Thursday that would ban the grandfathering of conflicted remuneration for financial advisors, after the banking royal commission suggested scrapping the practice.
A NAB-owned trustee is facing a possible class action over $100 million in allegedly excessive fees charged to super fund members.
German-based cladding manufacturer 3A Composites has foreshadowed potential cross claims against third party engineers and certifiers in one of two class actions brought over allegedly dangerous combustible cladding used in countless buildings across Australia.