The Australian Securities and Investments Commission has filed Federal Court proceedings against Bank of Queensland and Bendigo and Adelaide Bank over alleged unfair terms in their small business contracts.
The Full Federal Court has shot down a challenge to a ruling denying horse vaccine maker Zoetis’ application for security for costs in an unfunded class action brought on behalf of horse owners alleging the company failed to warn about the potential side effects of the Hendra virus vaccine.
The Australian Competition and Consumer Commission has taken private health insurer Medibank to court for falsely telling consumers they were not eligible for certain coverage under their insurance policies, with over 800 policy holders denied coverage for joint investigation or reconstruction procedures.
Radio Rentals and its insurer, AIG, have reached a $29 million settlement in a consumer class action alleging the company pushed misleading ‘Rent, Try, $1 Buy’ leases onto vulnerable customers.
The Australian Competition and Consumer Commission has warned it could take enforcement action if its finds banks are misleading customers about foreign exchanges fees and warned banks’ use of their compliance obligations to deny banking services to their non-bank competitors could constrain competition in the market for foreign exchange services.
The Australian Competition and Consumer Commission has brought proceedings against publicly-traded BlueScope Steel and a former general manager for allegedly engaging in “serious cartel conduct” in relation to the supply of flat steel products in Australia.
One month after Japanese shipping company K-Line was hit with a $34.5 million fine for cartel conduct, Norwegian shipping firm Wallenius Wilhelmsen Ocean AS has said it will plead guilty to one charge of criminal cartel conduct for its role in the same scheme.
Biotech company Cryosite has agreed to a $1 million settlement for losses resulting from legal advice received in relation to a merger agreement that left the company facing $1.05 million in penalties for engaging in cartel conduct.
Allianz Australia will refund over $8 million in fees and premiums to customers who were sold worthless cover they were not eligible to make claims under, including teenagers who were sold death cover.
Facebook and Instagram have denied allegations they breached Australia’s competition law when they terminated the accounts of a Melbourne-based startup, saying they were entitled to block the company from their platforms.