The plaintiffs in one of two shareholder class actions brought against troubled sandalwood producer Quintis have complained about potential delays that could result from the “overly complicated loss theory” being advanced in a parallel class action.
With over 300 concurrent investigations on foot, the Australian Securities and Investments Commission has leaned heavily into its ‘why not litigate’ approach and is bringing outside help on board, including from law firms.
The Australian Securities and Investments Commission has filed an appeal against the Federal Court’s responsible lending ruling in favour of Westpac, arguing the decision had created uncertainty around the obligations of credit providers.
The Australian Securities and Investments Commission is seeking evidence from US proceedings in its case against Rio Tinto alleging the mining giant misled shareholders about a Mozambique mining company purchased for US$4.2 billion.
Two former directors of Tennis Australia can’t access chats between ASIC and other executives from the tennis body, with a judge finding the documents recording the communications with the potential witnesses were created in anticipation of litigation and were therefore privileged.
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.
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.
The Australian Securities and Investments Commission has brought legal action against National Australia Bank over its scandal-ridden ‘Introducer’ loan referral program.
Six individuals interviewed by ASIC in relation to the collapse of sandalwood producer Quintis have sought leave to intervene in the regulator’s case against the company’s founder, Frank Wilson, after he sought discovery from ASIC of interview transcripts.
The applicants in the Radio Rentals “Rent, Try $1 Buy” class action have flagged the potential for prejudice caused by the respondents’ late evidence, with concerns about their capacity to be ready by the looming trial date if ongoing settlement negotiations hit a dead-end.