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Showing 51 - 60 of 2243 results for "Court"

Federal Court appoints receivers to ALAMMC Developments

ANDREW MCKEAN  |  TUESDAY, 5 NOV 2024
The Federal Court has made orders appointing receivers of the property of ALAMMC Developments and a sundry of related corporate entities a few months on from freezing the assets of company director David McWilliams. The receivers, Helen Newman and Andrew ...

Westpac profits drop as it prepares for leadership change

ELIZA BAVIN  |  MONDAY, 4 NOV 2024
... known as TAL Life Insurance) in October 2023 reached a settlement in September 2024, it still requires approval from the court. The bank said there "remains uncertainty" over the expenses that may be associated with the proceedings and settlement. Meanwhile ...

Non-bank lender sued for dodging Credit Code

JAMIE WILLIAMSON  |  THURSDAY, 31 OCT 2024
... and sophisticated investors, the Oak Capital Mortgage Fund and Oak Capital Wholesale Fund. Filing a case with the Federal Court, ASIC alleges Oak Capital made close to 50 loans over a four-year period to companies that it had no reason to believe were ...

ASIC secures win against HCF Life

ELIZA BAVIN  |  TUESDAY, 29 OCT 2024
The Federal Court has ruled in ASIC's favour, finding that a 'pre-existing condition' term in certain HCF Life policies was liable to mislead the public. The term was used in three contracts issued under HCF Life's 'Recover' range of products. ASIC ...

Queensland-based financial firm loses AFSL

MATTHEW WAI  |  FRIDAY, 25 OCT 2024
... licensee obligation. ASIC revoked the AFSL of Next Generation Advice (in liquidation) (Next Gen) after the Queensland Supreme Court ordered the company be wound up on August 23. ASIC specified that Next Gen must continue its membership of the Australian ...

ASIC cans timeshare company AFSL

KARREN VERGARA  |  WEDNESDAY, 23 OCT 2024
... credit licence of the firm," ASIC said. As a result, ASIC cancelled the two licences on October 16. In 2022, the Federal Court found that between October 2017 and March 2019, financial advisers acting as authorised representatives of Ultiqa advised consumers ...

TAL changes underwriting limits

KARREN VERGARA  |  MONDAY, 14 OCT 2024
... $900 million. WLIS has since been rebranded to TAL Life Insurance Services (TLISL). The acquisition is awaiting Federal Court approval. If successful, TLISL's assets and liabilities, including all the life insurance policies issued by TLISL, will transfer ...

ASIC seeks $27m penalty against AustralianSuper

ELIZA BAVIN  |  THURSDAY, 10 OCT 2024
ASIC is seeking a major $27 million penalty against AustralianSuper in the Federal Court. ASIC alleges that, for almost 10 years, AustralianSuper failed to have adequate policies and procedures to identify members who held multiple AustralianSuper accounts ...

Charges dropped against Macquarie adviser

KARREN VERGARA  |  TUESDAY, 8 OCT 2024
... against a former Macquarie financial adviser, including five counts of fraud, have been dropped. The Brisbane Magistrate's Court dismissed all 27 charges laid against Warren Scott Acworth on October 3 after the Commonwealth Director of Public Prosecutions ...

Global Capital Property to be wound up

KARREN VERGARA  |  TUESDAY, 8 OCT 2024
The Federal Court ordered the wind up of Global Capital Property Fund (GCPF) shortly after director Joel Hewish was banned from working in the industry for 10 years. The hearing on October 3 appointed FTI Consulting as liquidators to GCPF after ASIC ...