Pleash, in the matter of Equititrust Limited (in Liquidation) (Receiver Appointed)  FCA 1063. https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2019/2019fca1063 The judge’s decision relates to an application by Blair Pleash and Richard Albarran as liquidators of Equititrust Limited to enter into a confidential settlement with Equititrust’s auditor, KPMG after eight years of legal proceedings. “The impression this leaves is inescapably … Continue reading Equititrust Limited Latest Judgement – Litigation Funding – Creditors collect zero!
The final report contains 76 recommendations. The following are some of the key recommendations made by Justice Hayne. Several recommendations deal with conflicts of interest or conflicts between duty and interest and that the law should be amended to provide that, when acting in connection with home lending, mortgage brokers must act in the best … Continue reading Final royal commission report released
The interim report from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has been released, including a plethora of policy-related issues impacting the finance industry. The report covers the “policy related issues” arising from the first four rounds of public hearings, which covered consumer lending, financial advice, SME loans and … Continue reading Royal commission releases interim report
The financial services royal commission has heard the case of the Brauers, a Queensland-based cattle-grazing family, who testified that they were “nearly wrecked” by their bank. During the fourth round of royal commission hearings, Bradley James, the regional manager for Queensland at Rabobank, turned to the Brauers while on the witness stand to express “regret” … Continue reading Bank regrets ‘unfair’ treatment of cattle-grazing family
Shane has completed the script for his first short film titled “Four generations for nothing”. The film will address the emotional and psychological pressures that families in rural Australia face and is intended to create awareness and promote the Royal Commission into Australia’s Banks. The production will have a positive influence for those suffering under … Continue reading Four Generations For Nothing (Short Film)
Commissioner Kenneth Hayne QC and senior counsel Rowena Orr gave opening statements today at the first public hearings in Melbourne into misconduct in the banking, superannuation and financial services industry. The Banking Royal Commission has been asked to investigate Australia’s $430 billion dollar unregulated commercial finance industry as part of the Commission’s inquiry. Financial literacy … Continue reading First Royal Commission Hearing into Financial Services Industry
On 23 January 2018 Shane Reynolds filed his submission with the Commissioner High Court Judge, The Honourable Kenneth Madison Hayne AC. Shane Reynolds report addresses the conduct of financial services entities as defined by the terms of reference, the effectiveness of mechanisms for redress for consumers of financial services who suffer detriment as a result … Continue reading A Royal Commission Report by Shane Reynolds