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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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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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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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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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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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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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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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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What will be the legacy of the Hayne Royal Commission?

What will be the legacy of the Hayne Royal Commission?

The Hayne Royal Commission into the banking and financial services industry uncovered plenty of ugliness about Australia's leading financial institutions. The institutions themselves are still dealing with the fallout of the Royal Commission; class actions, board spills, and "restructure" plans are abound this year. What...

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Qantas' stake in Alliance hits turbulence

Qantas' stake in Alliance hits turbulence

Qantas' (ASX: QAN) acquisition of a 20 per cent interest in Alliance Airlines (ASX: AQZ) has triggered alarm bells for the competition watchdog. In a statement released this morning, the Australian Competition and Consumer Commission (ACCC) noted some red flags relating to certain transport routes only travelled by Qantas and Alliance...

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Former Leighton CFO to be given two years imprisonment for falsifying the books

Former Leighton CFO to be given two years imprisonment for falsifying the books

Peter Alan Gregg, a former CFO of Leighton Holdings (LHL), is looking at two years in jail for cooking the books. Gregg was found guilty in December 2018 after a five-week trial by jury for falsifying LHL's books. Meanwhile, former LHL executive Russell Waugh who was managing director at Leighton Welspun Contractors Pvt Ltd, was f...

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How to evaluate your accident or injury case

How to evaluate your accident or injury case

One of the first questions asked of accident and injury compensation lawyers is "what is the value of my claim?".  It is a fair question, and one that should be answered at the beginning of any compensation claim process. However, every case is different and there are a lot of variables to evaluate in an accident or inj...

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ACCC: Facebook and Google's power distorts companies' ability to compete

ACCC: Facebook and Google's power distorts companies' ability to compete

The long-awaited Australian Competition and Consumer Commission (ACCC) report into the out-of-control growth and dominance of digital platforms has been released today, with the watchdog critical of giants Facebook and Google. The overarching theme of the report can be distilled into the ACCC not trusting the platforms to self-regulate, w...

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M&As a hotbed for hackers and cybercriminals

M&As a hotbed for hackers and cybercriminals

With breaches of cybersecurity now one of the most looming threats for the sustainability of most Australian businesses, many are wondering how best to protect their operations. Simple things like regularly changing passwords and ensuring absolutely everybody changes them can go a mile towards strong cybersecurity Just see the case o...

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Wattle Health launches legal action against Indian importer

Wattle Health launches legal action against Indian importer

Organic infant food producer Wattle Health (ASX: WHA) has initiated legal action against an Indian importer for money owed. Wattle Health alleges baby food importer Vasudevan and Sons Exim Private (VSEP) has not provided the full bank guarantee to Wattle Health as required under a supply agreement. The pair entered into a supply agree...

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Aged care provider Estia Health taken to Federal Court in class action

Aged care provider Estia Health taken to Federal Court in class action

Aged care community operator Estia Health (ASX: EHE) has been served with a class action in the Federal Court of Australia. Law firm Phi Finney McDonald is acting on behalf of aggrieved shareholders, arguing Estia breached its continuous market disclosure obligations regarding the financial impact of its Kennedy Health Care (KHC) buyout. ...

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ASIC slams banks for "extremely poor" consumer credit insurance

ASIC slams banks for "extremely poor" consumer credit insurance

Australia's major banks have come under fire from the Australian Securities and Investment Commission (ASIC) for the sale of consumer credit insurance (CCI) that has "consistently failed consumers". In its latest report on CCI, Report #622, ASIC says that CCI products sold by 11 of Australia's major banks are of poor val...

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Michael Hill announces bumper backpay for employees

Michael Hill announces bumper backpay for employees

Jewellery retailer Michael Hill (ASX: MHJ) has announced that it owes employees between $10 million and $25 million in remediation payments. The group discovered this remuneration discrepancy when conducting a review into its Australian retail employment contracts and rostering practices. The company says it was non-compliant with som...

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Dodo slammed with fine for false streaming claim

Dodo slammed with fine for false streaming claim

Internet service provider (ISP) Dodo has been hit with a $360,000 fine for overstating what its NBN service could achieve. The company, wholly owned by Vocus Group (ASX: VOC), has agreed to refund around 16,000 customers for claims that its entry-level NBN broadband plans were 'perfect for streaming'. The plans in question wer...

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Pokies giants Ainsworth and Aristocrat to duke it out in the Federal Court

Pokies giants Ainsworth and Aristocrat to duke it out in the Federal Court

Last Thursday one of Australia's major players in the world of pokies filed a claim in the Federal Court against its biggest rival. After months of preparation, Aristocrat Technologies Australia (ASX: ALL) has taken Ainsworth Game Technologies (ASX: AGI) to the Federal Court, alleging breach of copyright. The case revolves around ...

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Former Sirtex CEO pleads guilty to insider trading

Former Sirtex CEO pleads guilty to insider trading

The former CEO and director of biotech company Sirtex Medical, Gilman Edwin Wong (pictured), has pleaded guilty to one charge of insider trading. Wong was committed to the Sydney District Court for sentencing on a date to be fixed. The charge of insider trading relates to Wong's sale of 74,698 shares on 26 October 2016 while in po...

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Slater and Gordon files class action against AMP

Slater and Gordon files class action against AMP

Listed law firm Slater and Gordon (ASX: SGH) has launched a class action law suit against AMP (ASX: AMP) for allegedly charging customers excessive fees. Slater and Gordon alleges that, through arrangements entered into with related parties, trustees AMP Super and NM Super paid too much to related AMP entities for administration services....

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The plot thickens in Zip Co and Firstmac's trademark dispute

The plot thickens in Zip Co and Firstmac's trademark dispute

It is fast becoming a case of 'he said, she said' as the trademark infringement allegations levelled at Zip Co develop. When the proceedings were lodged yesterday by Firstmac Zip Co came out swinging, saying that Firstmac is only now choosing to launch proceedings against it, despite Zip Co using the phrase in question, 'ZIP...

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Zip Co embroiled in trademark dispute

Zip Co embroiled in trademark dispute

Home loan provider Firstmac is taking digital finance and payments company Zip Co (ASX: Z1P) to Federal Court over a trademark dispute. Firstmac alleges that Zip Co has infringed its trademark 'ZIP' which is registered in respect of 'financial affairs', specifically home loans. Zip Co has engaged Corrs Chambers Westgar...

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