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Former Star CEO Matthias Bekier is seeking leave to appeal a judge's finding that he and the casino operator's former GC breached their duties, while ASIC is mulling a challenge to the court's dismissal of its case against members of the Star board.
Delivering his findings on ASIC’s action against Star Entertainment executives on Thursday, Federal Court Justice Michael Lee remarked that the “self-congratulatory submissions" of former board members named in the case were "jarring”.
ASIC has had mixed success in a case against former Star directors and officers, with a judge finding the casino operator’s former CEO and GC breached their duties but that claims against the former board fell short.
A law firm partner working on a shareholder class action over the collapse of Blue Sky Alternative Investments has faced cross-examination by counsel for auditor EY over alleged delays in seeking to amend the case.
A judge has ordered ANZ to pay $250 million in penalties in four cases by ASIC – $10 million more than the bank had agreed to pay – saying ANZ had "substantially deceived” the government by overstating bond trading volumes.
Collapsed supply chain finance company Greensill Bank can't access a copy of a Tokio Marine unit's database, with a judge finding the copy was created for the primary purpose of HWL Ebsworth providing legal advice.
A judge has questioned whether an agreed penalty against ANZ for overstating bond trading volumes is sufficient, noting the misrepresentations were "very significant".
The judge who tossed a class action by Quintis' shareholders should have found a restatement of assets would have materially affected the sandalwood company's share price "as a matter of common sense", a court has been told.
S&P has reached a settlement in a case by two Cayman Island companies over alleged defective ratings but a class action won’t settle until “hell freezes over,” a court has heard.
The funder of a failed class action against the founder of sandalwood producer Quintis and EY and has been hit with costs, despite arguing the order would set a bad precedent.