ASIC launches Federal Court inquiry into Worrells partner

ASIC launches Federal Court inquiry into Worrells partner

The man behind the liquidation of the Members Alliance Group of companies is in the crosshairs of the Australian Securities and Investment Commission (ASIC). As part of the Commonwealth's Serious Financial Crime Taskforce efforts, ASIC filed an application with the Federal Court seeking an inquiry into the conduct of Jason Bettles. ...

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Hold your horses: Body Corporate ban on Airbnbs unlikely to impact most Queenslanders

Hold your horses: Body Corporate ban on Airbnbs unlikely to impact most Queenslanders

A landmark legal decision upholding a ban on Airbnbs in certain strata title complexes is unlikely to impact the broader industry. For the first time in Queensland, a by-law banning short-term letting or Airbnb within a Gold Coast community has been successful. The decision in the case of Fairway Island GTP v Redman and Murray is cert...

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Car industry on notice as Mazda faces court

Car industry on notice as Mazda faces court

Car manufacturer Mazda's Australian arm will face the Federal Court over allegations of unconscionable conduct and misleading statements in relation to faulty cars. As alleged by the Australian Competition and Consumer Commission (ACCC), Mazda engaged in unconscionable conduct and made false representations in its dealings with custom...

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Compensation Partners Lawyers to relaunch as Kingsley Lawson Lawyers

Compensation Partners Lawyers to relaunch as Kingsley Lawson Lawyers

Since launching in 2013, Compensation Partners Lawyers, specialists in compensation law, have witnessed a solid growth in operation. With a staff of 16 in offices across New South Wales and Queensland, the boutique law firm has built its reputation on integrity, dexterity and expertise in the area of compensation law. As founder and M...

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ACCC takes Google to court over misleading use of user location data

ACCC takes Google to court over misleading use of user location data

The Australian Competition and Consumer Commission ('ACCC') has launched proceedings in the Federal Court against Google, alleging the Silicon Valley giant misused users' location data. The watchdog claims that from at least January 2017, Google breached the Australian Consumer Law when it made on-screen representations on And...

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Benjamin Hornigold demands repayment as JB Financial Group falls into receivership

Benjamin Hornigold demands repayment as JB Financial Group falls into receivership

The company that holds the majority of Benjamin Hornigold's (ASX: BHD) assets has fallen into receivership, and the embattled company is anxious for repayment. JB Financial Group (JBFG) fell into receivership today, with Wexted Advisors being appointed as the group's receivers and managers by Partners For Growth (PFG) under its se...

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Myer class action fails in court

Myer class action fails in court

The Federal Court has ruled Myer (ASX: MYR) will not need to pay damages in a class action brought by Amies Superannuation Fund trustee TPT Patrol, despite finding the retailer had engaged in misleading or deceptive conduct over a four-month period in FY15. The proceedings stemmed from a verbal statement made on 11 September 201...

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Slater and Gordon to receive nil in UK settlement

Slater and Gordon to receive nil in UK settlement

Slater and Gordon (ASX: SGH) will not see a cent from the settlement between Slater and Gordon UK and Watchstone Group. Slater and Gordon UK, now completely detached from the Australian law firm, has entered into a settlement agreement with Watchstone group following a counterclaim made by the professional services firm. Initially, Sl...

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Maurice Blackburn launches class action against CommBank's Colonial First State

Maurice Blackburn launches class action against CommBank's Colonial First State

Maurice Blackburn have launched a class action against Commonwealth Bank (ASX: CBA) on behalf of Colonial First State account holders. The class action is in relation to alleged breaches of super trustee duties that Maurice Blackburn says have caused substantial losses to more than 100,000 members over several years. The firm alleges ...

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IMF Bentham to buy European litigation funder for $141m

IMF Bentham to buy European litigation funder for $141m

An Australian group that has funded class actions against the likes of National Australia Bank (ASX: NAB), Sirtex and Murray Goulburn (ASX: MGC) is about to spread its wings. IMF Bentham (ASX: IMF) has agreed to acquire Netherlands-headquartered Omni Bridgeway for 87.5 million euros ($141 million) as part of a five-year plan to diver...

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Former Future Care owners serve Smiles Inclusive with statutory demand

Former Future Care owners serve Smiles Inclusive with statutory demand

Just one day after law firm Holding Redlich confirmed it had agreed to lead a class action process against Smiles Inclusive (ASX: SIL), it has been revealed the struggling dental empire now faces another legal battle. The former owners of Sydney-based Future Care Dental Group (FCDG), who sold their business to Smiles in December last...

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CommInsure charged with 87 counts of hawking

CommInsure charged with 87 counts of hawking

The life insurance arm of Commonwealth Bank (ASX: CBA), CommInsure, has been charged with 87 counts of offering to sell insurance products in the course of non-compliant unsolicited phone calls. The Australian Securities and Investment Commission (ASIC) alleges that CommInsure, wholly owned by CBA, unlawfully sold insurance policies known...

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Man arrested over Landmark White data breach

Man arrested over Landmark White data breach

The NSW Police Force Cybercriminal Squad have arrested a man in relation to the data breach incidents that affected real estate valuation business Landmark White (ASX: LMW). The man has been identified as 49-year-old Stephen Grant, who the Sydney Morning Herald reported as having worked for 12 years at Landmark White. H...

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Takeovers Panel blocks Benjamin Hornigold takeover

Takeovers Panel blocks Benjamin Hornigold takeover

The attempted takeover of Benjamin Hornigold by NSX-listed investment management company John Bridgeman has been shut down by the Takeovers Panel. After raising red flags in early September due to the apparent lack of competitiveness of John Bridgeman's offer, the panel has decided to stop the takeover in its tracks. John Bridgema...

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Lawcadia raises $1.3m in pre-Series A funding round

Lawcadia raises $1.3m in pre-Series A funding round

Legal technology company Lawcadia has received a $1.3 million capital injection to carry out global expansion and product development plans, building on a platform that is already used by all  of Australia's top-tier law firms. The pre-Series A round involved several private investors and early-stage venture capital firm Art...

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Ralan receivers to offload Ruby Apartments

Ralan receivers to offload Ruby Apartments

The collapse of property developer Ralan Group has triggered the sale of management rights for one of the most recent builds on the Gold Coast. Ruby Apartments, a 30-level apartment complex in Surfers Paradise completed less than a year ago, was one of several developments that was left in the lurch by the Sydney-based company's downf...

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Silver Chef shareholders knock down Next Capital for the second time

Silver Chef shareholders knock down Next Capital for the second time

Shareholders in embattled hospitality firm Silver Chef (ASX: SIV) have swatted away a takeover offer from investment firm Next Capital for the second time. Following Next Capital's second bid at taking over Silver Chef, shareholders in the latter have come out against the proposed deal, choosing instead to side with an alternative rec...

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Rural Funds launches lawsuit against short seller Bonitas Research

Rural Funds launches lawsuit against short seller Bonitas Research

Australian agriculture real estate investment trust Rural Funds Group (ASX: RFF) has commenced legal proceedings against US-based short sellers Bonitas Research and its principal Matthew Weichert. The proceedings relate to a short selling report published by Bonitas in early August which saw the shares in Rural Funds dive by 43 per cent. ...

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ASX comes knocking as iSignthis share price dives on Ownership Matters report

ASX comes knocking as iSignthis share price dives on Ownership Matters report

The last 48 hours have been a rollercoaster for the share price of iSignthis (ASX: ISX). After hitting a high of $1.66 on 11 September it suddenly crashed to a low of $0.99 the following day.  The initial spike can be attributed to the company's market update for gross processed transaction value (GPTV), which on an annualise...

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Watchdog gives green light to Elders rural retail acquisition

Watchdog gives green light to Elders rural retail acquisition

The Australian Competition and Consumer Commission (ACCC) has given agribusiness Elders (ASX: ELD) the go-ahead to acquire Australian Independent Rural Retailers (AIRR). Elders will buy AIRR for a cash-scrip consideration of $10.85 per share, valuing the rural merchandise, pet and produce chain at $157 million on an equity basis. AIRR...

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Neobank Xinja receives full banking licence

Neobank Xinja receives full banking licence

The Australian Prudential Regulation Authority (APRA) has granted Xinja Bank a full banking licence. This is a milestone for the company, and sees Xinja join Volt, Judo and 86 400 as the fourth 'neobank' to receive the licence. The effect of the licence means that Xinja can now open bank accounts to its early customers. Xi...

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Bonitas claims EY report "backfired" against Rural Funds

Bonitas claims EY report "backfired" against Rural Funds

The war of words between short sellers Bonitas Research and Rural Funds Group (ASX: RFF) continues today after the former finally responded to an Ernst & Young (EY) report commissioned by RFF. Instead of responding individually to every one of Bonitas' claims against the company, RFF opted to engage EY to produce a report into the...

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Class action alleges Westpac's super subsidiaries short-changed members

Class action alleges Westpac's super subsidiaries short-changed members

Westpac (ASX: WBC) subsidiaries BT Funds Management and Westpac Life Insurance Services have been hit with a class action from law firm Slater and Gordon (ASX: SGH). The class action alleges that superannuation members were short-changed by the bank's super funds. Slater and Gordon says members who invested in the BT Super for Lif...

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ASX drills Smiles Inclusive on shock $19 million loss announcement

ASX drills Smiles Inclusive on shock $19 million loss announcement

Late on Friday 30th August Smiles Inclusive (ASX: SIL) announced its disastrous FY19 results. Of particular note was its loss of $18.9 million during the financial year; a result that took the market by surprise. Now, the ASX has questioned Smiles over whether this significant loss was something the company should have alerted shareho...

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Ashley & Martin unfair contracts in the crosshairs

Ashley & Martin unfair contracts in the crosshairs

The Federal Court has determined three standard contracts from hair loss business Ashley & Martin are void because they are unfair to consumers. The Australian Competition and Consumer Commission (ACCC) highlights the company signed up more than 25,000 customers to its 'Personal RealGROWTH Program' to contracts on unfair terms...

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ASIC takes BOQ, Bendigo and Adelaide Bank to the Federal Court

ASIC takes BOQ, Bendigo and Adelaide Bank to the Federal Court

Two major Australian banking institutions have been sued by the Australian Securities and Investment Commission for allegations of the use of unfair contract terms. Bendigo and Adelaide Bank and BOQ have been taken to the Federal Court by the watchdog who alleges that the banks used contract terms with small businesses that were unfair. ...

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Class action against Radio Rentals leads to $29 million settlement

Class action against Radio Rentals leads to $29 million settlement

Radio Rentals' controversial 'Rent, Buy, $1 Buy' scheme has come back to bite more than two years after a class action filed by Maurice Blackburn Lawyers alleging unconscionable conduct.  The electronics and home appliance rental group's parent company Thorn Group (ASX: TGA) has stopped short of admitting guilt o...

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BlueScope Steel accused of price fixing by ACCC

BlueScope Steel accused of price fixing by ACCC

The Australian Competition and Consumer Commission (ACCC) has taken action against BlueScope Steel (ASX: BSL) and its former general manager sales and marketing Jason Ellis for alleged cartel conduct. The watchdog alleges that between September 2013 and June 2014 BlueScope and Ellis attempted to induce steel distributors in Australia and ...

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Slater & Gordon UK hit with a counterclaim by Watchstone Group

Slater & Gordon UK hit with a counterclaim by Watchstone Group

Once a prized acquisition of law firm Slater & Gordon (ASX: SGH) and now an aggrieved respondent, Watchstone Group has launched its own counterclaim against the separate UK law firm. The professional services business, formerly known as Quindell, was acquired for $1.3 billion by Slater & Gordon in 2015. It was the beginning of...

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ACCC review slams food franchisors for failing franchisees

ACCC review slams food franchisors for failing franchisees

Food franchisors are yet again in the spotlight for their failings as the Australia Competition and Consumer Commission (ACCC) releases its latest review into the sector. The watchdog found that franchisors in the food services sector are providing inadequate information to potential franchisees. The report, Disclosure practices in fo...

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