Simon Cho

Financial services disputes

• Acted for the employer and a financial services licensee in the Supreme Court of New South Wales in proceedings brought by a financial adviser in relation to the termination of his employment. The adviser’s employment had been terminated on the basis of repeated inappropriate financial advice given to clients in breach of contractual and statutory duties.
• Advised a large financial services client on court-ordered customer remediation schemes. The schemes took three years to complete.
• Defended a group of companies in a class action alleging conflicted financial advice and excessive insurance premiums.
• Defended the trustee of a superannuation fund in a claim for insurance cancelled in accordance with Protect Your Super legislative reforms.
• Represented the trustee of a superannuation fund in a complaint to AFCA concerning eligibility rules for the commencement of a pension.
• Acted in numerous life insurance claims against insurers, financial advisers and financial services licensees in the County Court of Victoria, Supreme Court of Victoria and Supreme Court of NSW.

Financial services regulatory matters

• Defended a financial services licensee in civil penalty proceedings commenced by ASIC for alleged ‘systemic’ contraventions of the best interests obligations in Part 7.7A of the Corporations Act 2001.
• Advised multiple financial services licensees in regulatory investigations into alleged ‘fee for no service’ conduct.
• Advised a superannuation trustee in an APRA investigation into alleged unit pricing discrepancies.
• Advised a financial services licensee subject of an ATO GST risk review.

Other commercial disputes

• Defended a majority shareholder in an action brought by minority shareholders in relation to the sale of shares in the Federal Court.
• Defended a client against misleading and deceptive conduct claims in relation to the sale of a financial services business brought in the Supreme Court of NSW.
• Defended a financial services client in a class action alleging certain contractual terms were unfair contract terms and void under the Australian Consumer Law or otherwise unlawful.
• Commenced proceedings against insurers for indemnity pursuant to a professional indemnity insurance policy in the Supreme Court of NSW. The client’s liability subject of the disputed indemnity exceeded the $100,000,000+ policy limit.
• Sought and obtained urgent freezing orders in the Federal Court.
• Intervened for a creditor in Family Court divorce proceedings and obtained orders for the sale of property and distribution of proceeds.

Tax disputes

• Acted for the Commissioner of Taxation in a merits review appeal to the Federal Court regarding a Family Trust Distribution Tax assessment.
• Acted for the Commissioner of Taxation in an application for judicial review of a decision to issue a notice pursuant to section 260-5 of Schedule 1 to the Tax Administration Act 1953 (statutory garnishee).