Financial Services
Equity Trustees deflects blame in ASIC case over First Guardian fund
The super trustee has pointed the finger at third party firms in its defence to an action by ASIC over its offer of the failed First Guardian fund on its investment platform.
Business of Law
Barrister found guilty of contempt in fight with chambers
A Sydney barrister has been found guilty of contempt in a fight with his chambers over $112,000 in alleged unpaid fees after he failed to follow court orders to hand over his financial documents and did not explain why he had not filed tax returns since 2016.
Corporate
Former Rex CEO cops $800,000 penalty, four-year ban
Former CEO and chairman of budget airline Rex Lim Kim Hai has been hit with a $800,000 penalty and a four-year disqualification order for admitted breaches of his continuous disclosure obligations.
Class Actions
Law firm seeks discovery from Officeworks as it mulls class action
Adero Law has filed proceedings against Officeworks seeking preliminary discovery as it mulls an underpayments class action against the office supply company.
Class Actions
Bus crash class action judge threatens to pull a Hammer over docs
A judge overseeing the Hunter Valley bus crash class action has questioned why “reputable law firms” have failed to comply with discovery orders, and warned he might pull a Hammerschlag and give the applicants everything.
Greenwashing
ACCC warns businesses about ‘net zero’, carbon credit claims
The ACCC has released guidance on how businesses can avoid greenwashing, warning that using broad terms like 'net zero' or relying on carbon credits could create a misleading impression.
Appeals
Big Un liquidators appeal loss in case against FC Capital unit
The liquidators of a subsidiary of collapsed media company Big Un have lodged an appeal after a judge tossed their case against financier First Class Capital alleging a three million share purchase was part of a scheme to inflate the company's stock price.
Business of Law
Dentons brings on HWLE tax lawyer as partner in Brisbane
Dentons has hired a lawyer from HWL Ebsworth to join the tax practice in its Brisbane office.
Analysis
Toyota class action funder to confront tough questions over $244M payout
The litigation funder that bankrolled two class actions against Toyota, which settled this month for a record $750 million, faces a grilling by the Federal Court over its proposed commission -- the largest payout ever sought in an Australian class action.
Public Corruption
Judge appointed to lead national corruption watchdog
Federal Circuit and Family Court Deputy Chief Justice Robert McClelland has been appointed to lead the nation’s corruption watchdog, replacing inaugural Commissioner Paul Brereton, who stepped down in July.
