Daily Dispatches: NAB plans RBS branch bid

National Australia Bank is carrying out due diligence on the purchase of 318 Royal Bank of Scotland retail branches, a deal that could be finalised in the next two months. (The Australian)

Goldman Sachs in Australia faces a potential $15 million lawsuit by former clients who have claimed the investment bank misrepresented complicated derivatives contracts that forced them to buy bluechip stocks at over-the-market odds. (The Australian)

The nation's corporate watchdog blocked efforts by a litigation fund to mount a landmark class action aimed at seeking the return of up to $5bn in penalty and late fees from banks. The Australian Securities and Investments Commission in March rejected a request by litigation funder IMF Australia for a crucial exemption needed to be able to proceed with a class action against the banks. (Sydney Morning Herald)