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Former ACCC chair Allan Fels says the competition regulator appears to have a strong misuse of market power case against Mastercard, but noted the credit card giant may raise arguments about two-sided markets in defending the claims.
A judge has rejected a bid to amend a shareholder class action against Beach Energy, saying the way the applicant had articulated its case on loss by reference to an expert report was “apt to lead to confusion”.
The Federal Court has taken a more permissive approach to the use of generative AI than the NSW Supreme Court, allowing tools like ChatGPT to be used in creating affidavits with the proviso that the use must be disclosed.
Former silk Norman O’Bryan argued Thursday for no prison time after pleading guilty in a criminal case over his role in the Banksia Securities class action. And he could win the argument, with a judge saying she was considering a community service sentence.
Construction PRO
A former client of a Sydney law firm has lost his bid to up a $300,000 damages award against the firm over a defective notice in a proposed $7.8 million land sale.
The High Court has thrown out Victoria's $4,970 cap on political donations months ahead of the next state elections, finding the law is unconstitutional and unlawfully benefits the major parties.
Mastercard executives who claim they had no anti-competitive purpose when pursuing agreements with retailers to favour its network are expected to face cross-examination about responses given to the Reserve Bank about its least cost routing initiative.
Construction PRO
Owners and head contractors could be caught out for unexpected payments and lose rights they thought they had, as far-reaching changes to Victoria’s security of payment regime take effect today, a construction expert told Lawyerly.
Mastercard has hit back at the ACCC’s claims that it sought to prevent competition with EFTPOS through strategic agreements with large retailers, saying the deals were struck for “benign and pro-competitive” reasons.
Mastercard made ‘strategic’ agreements with large retailers like Coles and David Jones to keep them from routing through EFTPOS, offering discounted exchange rates that left smaller businesses footing the bill, the ACCC told the court on the first day of trial.