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Rate-rigging class action pleadings OK’d, more than two years after case filed
Class Actions 2021-10-28 3:56 pm By Miklos Bolza Sydney

A judge has given the green light to amended pleadings in a class action accusing major banks of entering a cartel agreement to rig foreign exchange rates, bringing a two-year fight over the pleadings closer to resolution.

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Judge finds Montara oil spill ‘widespread’, in win for class action
Class Actions 2021-10-25 2:15 pm By Miklos Bolza Sydney

A judge overseeing a class action against the Australian arm of Thai state owned oil giant PTT has rejected attempts to limit the claimed damages from one of Australia’s largest oil spills, saying the disaster was “widespread” across Indonesian islands in the Timor Sea.

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Injunction extended in ACCC’s challenge to Virtus’ acquisition of Adora
Corporate 2021-10-25 3:13 pm By Cindy Cameronne Sydney

The Australian Competition and Consumer Commission has won an injunction to stop Virtus from completing the purchase of rival Adora Fertility until a court has ruled on the competition regulator’s challenge to the acquisition.Ā 

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Virtus ‘author of its own fate’ if Adora acquisition fails, judge says
Competition & Consumer Protection 2021-10-19 9:30 pm By Cindy Cameronne Sydney

IVF provider Virtus Health would be ā€œthe author of its own fateā€ if its proposed acquisition of rival Adora Fertility flopped, a judge has said in hearing the ACCCā€™s bid for a temporary injunction blocking completion of the planned purchase.

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ACCC wins temporary halt to Virtus’ acquisition of Adora
Competition & Consumer Protection 2021-10-14 7:02 pm By Cat Fredenburgh Melbourne

The ACCC has won an interim injunction blocking IVF provider Virtus Health from completing its purchase of rival Adora Fertility on Friday.

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Ex-Dick Smith CFO to appeal $43M victory for NAB
Restructuring & Insolvency 2021-10-07 6:25 pm By Miklos Bolza Sydney

Dick Smith’s former CFO will appeal a $43 million judgment in favour of National Australia Bank over his role in the retailer’s collapse.

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Westpac wants contempt conviction against Forum’s Bill Papas but can’t find him
White Collar 2021-10-01 6:27 pm By Miklos Bolza Sydney

Westpac wants Forum Finance founder Bill Papas held in contempt of court, but the bank has hit a snag in serving its motion on the missing Papas, saying he dropped his lawyers without telling them the address of his current residence in Greece.

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Forum Finance director faces $300,000 legal bill, can’t mount defence, court told
Financial Services 2021-09-22 9:42 pm By Cindy Cameronne Sydney

A Forum Finance director is unable to file a defence against Westpacā€™s $400 million fraud case because his former solicitor has refused to hand over case files to his new lawyers until he pays a ā€œremarkableā€ $300,000 legal bill, a court has heard.

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NSW Police launch investigation into Forum Finance
Financial Services 2021-09-13 2:57 pm By Cat Fredenburgh

The NSW Police have commenced an investigation into Forum Finance and director Bill Papas, which have been accused by Westpac, French investment bank Societe Generale and Japanese bank SMBC of a $400 million fraud.

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Forum Finance liquidators win court ok to sell $1.2M luxury yacht
Restructuring & Insolvency 2021-09-03 9:57 pm By Miklos Bolza Sydney

Liquidators for Forum Finance have won court approval to sell a $1.2 million Mangusta luxury yacht as well as 12 properties owned by various companies within the Forum Group.

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