Securities
ASIC looking at JP Morgan, Bank of America over failed Firmus IPO
ASIC is looking into lead managers behind AI data centre company Firmus’ failed public float, with a key issue whether they had a reasonable basis for assertions about investor demand.
Employment
Telstra wins order blocking ex-Purple boss from Vocus job
A Federal Court judge has granted teleco giant Telstra's bid to block a former senior executive from working at competitor Vocus until next year.
ASIC
Ex-Super Retail CEO’s bid for ASIC file a ‘fishing expedition’, court told
The former chief executive officer of Super Retail Group has argued he should have access to ASIC’s entire investigation file into the company, in proceedings alleging he failed to disclose a relationship with the company’s former chief human resources officer.
Business of Law
15 barristers elevated to silk in Victoria
The Victorian Bar has welcomed 15 new senior counsel, including barristers who worked on the Black Saturday bushfire class actions, COVID-19 business interruption cases and junior doctors underpayments class actions.
ASIC
ASIC floats separate question in case over comparison websites
ASIC has flagged it may seek an initial trial on whether comparison website company Clark Family provided financial services to consumers, in its case alleging the company sold customer enquiries to the highest bidder.
Defamation
Court throws out law lecturer’s defamation suit over FWC case
A judge has tossed a defamation suit by a Swinburne University academic against a publisher over an article about a Fair Work Commission decision, finding the article was a fair report of a public document.
Insurance
Insurer loses bid for separate legal teams in silica exposure suit
A judge has rejected insurer AAI's bid to have a labour hire company and a mining contractor represented by separate legal teams in a worker’s negligence suit related to silica exposure.
AUSTRAC
Star hit with $260M fine for ‘egregious’ money laundering failures
A judge has ordered Star Entertainment to pay a $260 million penalty for anti-money laundering and counter-terrorism financing failures, saying the casino turned a “blind eye” to customers likely linked to organised crime.
Insurance
Final case over Greensill collapse settles against IAG, Tokio Marine
Investment firm White Oak has settled its case against IAG, Tokio Marine and subsidiary BCC alleging the insurers were liable for $200 million in damages following the collapse of supply chain finance company Greensill.
ASIC
QBE to contest ASIC penalty over misleading discounts
Insurer QBE will dispute ASIC's proposed penalty after admitting that its pricing model misled customers.
