ESSSuper goes legal on Iress over automated admin
Financial services software company, Iress has confirmed that its subsidiary Financial Synergy has become the subject of civil proceedings launched by Emergency Services Superannuation (ESSS).
Iress confirmed to the Australian Securities Exchange (ASX) that ESSSuper had commenced civil proceedings in the Federal Court against Iress and Financial Synergy “due to an existing dispute pursuant to the Platform Services Agreement between the parties.
The Iress announcement said the company denied the claims made against it and would be filing a defence in accordance with the court’s timetable.
“Iress continues to provide the contracted services to ESSSuper,” the announcement said.
Iress and ESSSuper entered into an agreement in October 2019 under which Iress provided an automated administration service to the superannuation fund.
At the time of the arrangement, Iress said that the automated superannuation administration package would allow the fund to focus on members “while Automated Super Admin takes care of technology, delivery and maintenance”.
Dixon MIS fiasco was back dated into CSLR as there were many Canberra bureaucrats caught. Nothing like self interest to…
Looks like there are some cultural issues within Treasury if they want to play smoke and mirrors. Probably explains the…
Funny that. Where's all the class action litigation vultures? I thought they cared about equity.
Scrap it
If this does happen it will represent the biggest case of intergenerational theft ever. Older/pension members getting their balances artificially…