Australia & New Zealand Banking Group Ltd. illegally charged customers for making late credit card payments, a judge said in the first ruling of its kind in Australia with lawsuits against other banks set to follow.
LaSalle Investment Management Inc., the property-fund unit of the world’s second-largest commercial real estate brokerage, raised about 560 million euros ($780 million) from investors to buy properties in Europe.
National Australia Bank Ltd., whose shareholders are seeking A$450 million ($472 million) of damages over its exposure to U.S. subprime debt, lost a bid to have the identities of the group members disclosed.
Australia & New Zealand Banking Group Ltd. customers seeking to recoup fees they claim were illegal can proceed with part of the lawsuit after a judge ruled credit- card charges for late payments can be challenged in court.
Brookfield Multiplex Group’s A$110 million ($97 million) settlement with about 120 individual and institutional investors, who claimed they lost money because the company failed to disclose losses at London’s Wembley Stadium, was approved by the Federal Court of Australia.