Financial Services
Judge OKs ‘very disappointing’ AMP class action settlement, cuts fees
A judge has approved a $120 million settlement in a class action against AMP that followed the banking royal commission, saying while it was a “very disappointing outcome” for group members it was still fair and reasonable.
Real Estate
One Global Capital’s $1.9B Five Dock project wins fast-track status
One Global Capital's proposed $1.9 billion mixed-use redevelopment at Five Dock in has been declared a state significant development, paving the way for one Sydney's largest urban renewal projects.
Class Actions
Blue Sky judge bemoans ‘vast amounts’ of unnecessary work in class actions
A judge has questioned the level of detail in a 1,700-page proposed amended pleading in a shareholder class action over the collapse of fund manager Blue Sky, expressing "frustration" at the amount of unnecessary work that goes on in class actions.
Appeals
Star CEO, GC say judge got it wrong about obligations to board
Star’s former boss and chief legal officer have argued that a judge erred in finding they breached their directors’ duties by allegedly failing to inform the board of unacceptable money laundering risks in its Sydney casino.
Environment
Renex challenges EPA prosecution over investigator’s authority
Waste management company Renex has filed court proceedings seeking to overturn an environmental prosecution, alleging the EPA's investigator was not properly authorised to bring the case.
Employment
Richard White’s Kyckr claims ex-CTO sacked over performance issues
Richard White and his anti-money laundering software company Kyckr have hit back at an unfair dismissal case by the company's former chief technology officer, claiming she was terminated for “longstanding performance issues”.
Ahmed Terzic
Publican Julian Gerner expands claims over Continental Hotel Sorrento development
Publican Julian Gerner has “significantly” amended his claims in a dispute over the redevelopment of the Continental Hotel Sorrento, a court has heard.
Energy & Natural Resources
Southern Cross Gold says local group ‘impecunious by design’ to dodge security
A Southern Cross Gold unit has attacked a community group’s failure to put on evidence of its members' financial status to support claims that it can't meet the company’s $230,000 security demand in a dispute over a Victorian tunneling project.
Competition & Consumer Protection
ACCC to take deeper look at Zoetis, Neogen merger
The Australian Competition and Consumer Commission has opened a phase 2 review into animal drug company Zoetis' proposed acquisition of Neogen's global animal genomic testing business, saying it would substantially lessen competition in the market for animal gene testing services.
Competition & Consumer Protection
Coles challenges ACCC’s block of supermarket site acquisition
Coles has asked a tribunal to clear its proposed acquisition of a leasehold interest in a supermarket and liquor store site in Kalgoorlie, arguing the ACCC's finding that it would substantially lessen competition was "not objectively correct".
