Financial advice institutions to refund over $800 million

As the revelations from the Royal Commission continue to pour in, the Australian Securities and Investment Commission (ASIC) has revealed that, in total, Australian financial advice institutions will refund customers over $800 million in reparations over fees for no service (FFNS) programs. The big four banks (ANZ, CBA, NAB, and Westpac) ...

Meriton slogged with $3m fine for misleading customers on TripAdvisor

The latest from the Federal Court might make you want to reconsider how much trust you place in TripAdvisor. Meriton was ordered on Tuesday to pay a $3 million fine for misleading customers on hotel review site TripAdvisor after engaging in the process of 'masking' email addresses. By 'masking' guests that the hotel ch...

Europcar in ACCC bungle over alleged excessive surcharges

The ACCC has launched proceedings against Europcar in the Federal Court, alleging the car rental service has been hitting its customers with excessive credit and debit card charges. The court will hear that Europcar customers who used Visa or MasterCards during July and August 2017 incurred excessive surcharge fees, above what it cost the...

AMP takes a swipe at 'independent' report claims

Financial services giant AMP (ASX:AMP), in response to a damning investigation by Four Corners, has taken a swipe at suggestions that a report it commissioned last year by the AMP board could be construed as fully independent.

The report was prepared by law firm Clayton Utz on behalf of AMP in relation to allegations that AMP was issuing...

Emanuel Exports' affiliate has export licence suspended

A second live export company, closely affiliated with the company behind the tragic Awassi Express voyage, has had its export licence suspended. EMS Rural Exports has been denied a permit to ship the sheep to the Middle East, following considerable outrage from the public, press, and interested animal rights organisations. The suspens...

"Bullshit": despite suspension, Emanuel Exports continues with live export of sheep

Emanuel Exports has found a loophole to continue exporting live sheep from Australia despite its licence being suspended. The company behind the Awassi Express shipment that captured the nation's attention and spurred on significant national protest is attempting to use an associated company to send another load of sheep to the Middle...

It's all over red rover for Dover following ASIC undertaking

Dover Financial Services will turn in its financial advisory licence at the end of next week, as an Australian Securities and Investment Commission (ASIC) investigation into the company's 'systematic failings' is ongoing. The financial services company, which was also subject to a Royal Commission grilling earlier this month, ...

Air NZ penalised $15 million for price fixing charge

The Australian Federal Court has penalised Air New Zealand (Air NZ) with a $15 million fine after the ACCC took legal action against a global air cargo cartel. The Court found Air NZ made and gave effect to agreements with other airlines to fix the price of fuel and insurance surcharges on air freight services from Hong Kong, and insuranc...

Slater & Gordon refutes ABC's allegations of "claim farming"

Slater & Gordon (ASX: SGH) has hit back at the ABC following Sunday's report that the law firm has been engaged in the practice of "claim farming" using data obtained by online doctor booking service HealthEngine. The ABC alleged over the weekend that Slater & Gordon had been paying a marketing firm called PreLegal $...

Emanuel Exports suspension takes industry closer to its demise

The live export industry is edging precariously to its eventual demise after Australia's largest live sheep exporter Emanuel Exports had its export licence suspended. The Federal Agriculture Department suspended the live export licence of Emanuel Exports as it investigates whether the exporter has been complying with animal and livest...

Kidnapping phone scam targets Chinese students in Australia

The ACCC has warned Australia's Chinese community of a recurring scam that involves threats of arrest and extortion via fake kidnappings. Having already caused victims $1.15 million worth of losses, the perpetrators appear to be targeting Chinese Australians nationwide. The terrifying scam comes in two forms but mostly threatens C...

ASIC launches legal proceedings against former Quintis managing director

Now defunct and previously ASX listed company Quintis is back in the firing line after ASIC announced it has launched legal proceedings against former Quintis managing director Frank Wilson. The corporate watchdog will allege that Wilson failed to discharge his duties as a director in 2017. The proceedings allege Wilson failed to disc...

Wilson Security hit with $740,000 penalty for failing to provide services in WA

Wilson Security has been ordered to refund 320 West Australian customers after it charged for security patrols that were not provided. Wilson was found to have breached Australian Consumer Law and was ordered to pay a total refund bill of $740,000. The company was contracted to provide internal premise security patrols for 320 co...

Shine becomes latest class action firm to take a crack at AMP

Shine Lawyers (ASX: SHJ) has filed a class action lawsuit against AMP (ASX: AMP) in the Federal Court, becoming the third firm to officially launch proceedings against the financial services giant. Supported by litigation funder Augusta Ventures, Shine will argue that AMP mislead and deceived its customers over financial advice which it c...

BOQ, Suncorp to face grilling at Royal Commission

The Bank of Queensland (ASX: BOQ) and Suncorp (ASX: SUN) are the next financial institutions set to face the music at the financial services Royal Commission. The third round of public hearings will discuss loans to small and medium enterprises, and will see BoQ and Suncorop face a grilling, alongside the major institutions. Running f...

High profile Brisbane businesswoman Jenny Hutson to face multiple ASIC charges

When she was the chair of childcare giant G8 Education, Jenny Hutson stood at the centre of the company's botched takeover bid of Affinity Education. Now, almost three years following the failed acquisition, Hutson is set to face the music in court against charges of dishonesty and misconduct during her tenure. Following an invest...

Storm Financial directors fined for breach of duties

The directors of Storm Financial, Emmanuel and Julie Cassimatis, have been fined $70,000 each by the Federal Court for breaching director's duties. The two, who were previously found by the Court to have breached their duties as directors, were also disqualified from managing corporations for seven years. The fines conclude ASIC...

DibbsBarker to shut up shop following partner exodus to Dentons

Longstanding mid-tier law firm, DibbsBarker, will not be operating beyond 30 April 2018 after 17 of its partners announced they were joining Dentons. The global heavyweight this morning announced it was acquiring 17 of DibbsBarkers' partners and other staff effective 1 May. Following the announcement, DibbsBarker revealed the loss of ...

Slater and Gordon investigates class against major banks

Law firm Slater and Gordon is investigating potential class actions against Australian banks on behalf of consumers who have been sold millions of dollars in "worthless" or "junk" credit card insurance. "We have found substantial evidence which suggests that a large number of people have paid tens of millions of d...

Shine Corporate doubles profit on digital strategy

Listed legal services company Shine Corporate (ASX: SHJ) has doubled its first half net profit to $7.83 million as it pointed to its "improved digital strategy" for the results.

The company also increased revenue by nearly 20 per cent to $88.23 million for the six months to December 31, 2017, compared to the prior corresponding peri...

WIN $10,000 Cash for best Launch Strategy with Travis Schultz Law

Travis Schultz Law is offering $10,000 and a 4-week intensive internship at award-winning ad agency YomConnect to the person who can develop the best strategy for the firm's launch in April. ENTER HERE The firm is looking to hit the ground running with this launch strategy.  When asked what they're looking for in the ...

Australian law firms healthy despite persistent competition and disruption

A new study into Australian law firms has revealed the Australian legal sector is healthy despite persistent problems. The seventh annual ALPMA Crowe Horwath Financial Performance Benchmarking Study indicated law firm profitability remains strong despite increasing disruption and a more competitive market. Profit margins remain strong...

FORMER MINTERELLISON PARTNER LEAVES TO OPEN NEW LAW AND BUSINESS FIRM

FORMER MinterEllison partner, Adam Merlehan, has left the multinational to establish a 'full service' multidisciplinary business and law practice. Merlehan Group, which will have offices in Brisbane, Sydney and Melbourne, will offer business strategy advice for growth or business optimisation. Merlehan's team will assist w...

HARD WORK PAYS OFF FOR HELIX LEGAL FOUNDERS

THE blood, sweat, and tears that has gone into creating Helix Legal have finally paid off for Director and Partner Janelle Kerrisk. The law firm, still in its infancy relative to other Queensland law firms, has gone from strength to strength since its inception. Recently, Kerrisk was awarded a National Association of Women in Construc...

AUSTRALIAN LAWYERS CLOCK NEARLY 3 MILLION PRO BONO HOURS OVER THE LAST 10 YEARS

OVER the past ten years Australian lawyers have contributed nearly 3 million pro bono hours of legal work. The Australian Pro Bono Centre's 10th Annual Performance Report shows Australian lawyers gave 2.86 million pro bono hours to the community over the last 10 years. 420,195 of those hours were contributed during the last financ...

REBEL WILSON RECEIVES MILLIONS IN DAMAGES FROM BAUER MEDIA

BAUER Media has been ordered to pay more than $4.5 million in damages to Australian actress Rebel Wilson. The Hollywood actress and comedian sued the German-owned magazine company for publishing a series of defamatory stories in 2015. In June, a six-person jury found that Wilson was defamed by Bauer Media in eight articles because the...

SLATER & GORDON BEGINS JOB CUTS AS MAJOR STRUCTURAL CHANGES ARE ANNOUNCED

EMBATTLED law firm Slater & Gordon (ASX: SGH) will cut around seven per cent of its workforce as it aims to reduce costs and make structural changes in the face of heavy losses and legal dramas.

The firm released a preliminary strategic and operational review and announced it has begun consulting with "impacted" employees a...

SLATER AND GORDON TO SETTLE CLASS ACTION FOR $36M

Slater and Gordon (ASX: SGH) has agreed to settle one of the class actions brought against it by angry shareholders which is expected to cost the firm $36.5 million.

The law firm says the Federal Court will mediate a settlement with thousands of shareholders led by investor Matthew Hall.

Slater and Gordon released a statement on Tue...

SLATER AND GORDON SHARES IN TRADING HALT AHEAD OF CRITICAL UPDATES

EMBATTLED law firm Slater and Gordon (ASX: SGH) has placed its shares in a trading halt ahead of an update on its legal dramas and a restructure proposal.

The company's shareholders are chasing compensation for the massive drop in the firm's value following its disastrous $1.3 billion acquisition of British professional services firm ...

AGED CARE OPERATOR AVEO MAY FACE CLASS ACTION FROM RESIDENTS

MADDENS Lawyers is considering a class action against retirement village operator Aveo after a Four Corners-Fairfax investigation revealed its complicated contracts and exorbitant fees.

The law firm issued a statement late on Thursday calling on residents at Aveo facilities to get in touch with them if they feel they have been financially dis...