Slater & Gordon settles last of Storm claims against NAB
More than two years after the collapse of Storm Financial, law firm Slater & Gordon has settled the last of its clients’ claims against the National Australia Bank.
Over 100 former Storm customers made claims against NAB arising out of the collapse of Townsville-based Storm Financial.
Lawyer Damian Scattini welcomed the settlements, stating it was a great result for mum and dad investors who lost their livelihoods and financial security with the collapse of the firm.
“While these settlements can never turn back the clock, it allows them to move on with dignity and to rebuild their lives,” Scattini said.
He also gave credit to NAB for “handling the matters in good faith and with respect for their customers”, adding that the majority of NAB clients who had settled their claims have been pleased with the approach taken by the bank.
Recommended for you
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
South Australian financial advice and accounting business Perks has extended its paid parental leave program from 12 to 26 weeks, putting it on par with big four firms.
Mason Stevens has tapped Investment Trends’ head of growth, alongside two other hires, to bolster its distribution team.
