The litigation funder that unsuccessfully sought to block a shareholder from opposing a $64 million class action settlement over the collapse of Banksia Securities is not on the hook for indemnity costs despite bringing the injunction with an ulterior motive.
A judge has struck out part of a class action against the Commonwealth Bank of Australia that alleges it kept investors in the dark about deficiencies in its systems for monitoring money laundering and terrorism financing risks, saying it wasn’t clear what the bank was expected to disclose.
Online lender Prospa has agreed to alter unfair terms in its standard form small business loan contracts, after it delayed a planned float due to concerns raised by ASIC about its loan terms.
A year after the Federal Court issued its important ruling on competing class actions and foreshadowed orders prohibiting duplicative legal fees, the company at the centre of the proceedings — organic baby food maker Bellamy’s — has called on the court to make good on its promise about costs.
Volkswagen has agreed to offer refunds or replacements to consumers if a defect makes a car un-drivable within the first 60 days after purchase without requiring proof of a major failure.
ASIC has taken two NAB wealth management units to court for allegedly charging superannuation members around $100 million in fees for services they never received.
Energy drink giant Monster Energy Company has come up short in two oppositions to trade mark registrations which it claimed would infringe its marks.
TPI Enterprises has gone on the offensive in a patent lawsuit initiated by rival poppy processor Tasmanian Alkaloids, saying the patents at the centre of the suit describe natural parts that can’t be patented.
Biologics company Cryosite has denied claims by the ACCC that it engaged in cartel conduct by referring customers to Cell Care before their asset sale agreement was completed, saying the two were not competitors.
Concerns that the proposed acquisition of Sirtex Medical by a Chinese private equity firm would leave the company with insufficient funds to cover a settlement or judgement in a class action were eased Wednesday, after a barrister said the takeover would leave the company with just under $1 billion in assets.