Competing Class Actions – the Court considers how best to address the problem

With the increasing number of litigation funders and plaintiff class action law firms, the threat of multiple competing class actions in respect of the same issues and the associated increased costs are an ever increasing risk for both insurers and insureds alike.  The recent Federal Court decision of Justice Lee in Perera v GetSwift Ltd […]

Million dollar penalty imposed on licensee for systemic failures to address best interests duty

First time the Court has imposed a penalty on an Australian Financial Services Licensee (Licensee) for breaches of the best interests duty On 30 March 2017, Justice Moshinsky of the Federal Court of Australia (Court) delivered judgment, declaring multiple breaches of s961K(2) and s961L of Corporations Act 2001 (Act) by Licensee, NSG Services Pty Ltd […]