Failed sandalwood oil producer Quintis has agreed to hand over insurance policies showing any coverage for potential liability it or its former CEO may have in two class actions brought against them.
The former CEO of Radio Rentals, who has been dragged into a class action against the company, claims he can’t properly defend himself because his former employer has asserted privilege over legal advice the company received regarding its ‘Rent, Try, $1 Buy’, which he says is crucial to his case.
The Australian Securities and Investments Commission is pushing back against an application by ANZ Bank to stay the regulator’s civil penalties case over disclosures related to a $2.5 billion equity capital raising while it defends against criminal charges related to the controversial share placement.
NSW Ports is facing a new lawsuit over an allegedly anti-competitive agreement entered into with the NSW state government for the privatisation of Port Botany and Port Kembla, which is the subject of a separate case brought by the competition regulator.
Electronics giant LG should pay a $700,000 fine for twice breaching the Australian Consumer Law when its offshore call centre workers misled customers complaining about faulty television sets that they had no rights to a repair, replacement or refund under the law, a court has been told.
Allowing Vodafone’s proposed $15 billion merger with TPG to go ahead if there were a real chance that TPG could seriously compete in the market for mobile services would have “profound social consequences,” the competition watchdog told the Federal Court Friday as it unsuccessfully sought to push back a hearing over the deal.
Jetstar Airways has been ordered to pay a $1.95 million penalty after it admitted to making false and misleading representations about customers’ eligibility for refunds on cancelled flights.
Indonesian national airline Garuda has been slapped with a $19 million penalty in the ACCC’s decade-long global cartel case over air cargo price-fixing, bringing the total penalties won by the competition regulator over the cartel to $132.5 million.
AMP has been hit with a class action alleging it breached its duty of care to superannuation members by charging them unreasonably high fees, and a second class action is expected within weeks.
Maurice Blackburn has launched a rare competition class action against five global investment banks over a conspiracy to manipulate foreign exchange rates that has spawned class actions and lawsuits by regulators across the globe.