Karen Petch

The Australian operator of crypto exchange Kraken has been ordered to pay $8 million for failing to comply with design and distribution obligations.

In the second test of the new design and distribution obligations under the Corporations Act, ASIC is seeking a $20 million penalty against the provider of the Kraken crypto exchange.

The corporate regulator has won its case against Bit Trade, the Australian provider of the Kraken crypto exchange, after a judge rejected the company’s argument that its product was not a credit facility. 

The Australian provider of the Kraken crypto exchange has told a court that its margin trading product is not a credit facility, rejecting the corporate regulator’s “overly broad” definition of the word ‘credit’. 

A former capital partner has called on HWL Ebsworth to produce communications between managing partner Juan Martinez and other members of the management team that allegedly preceded a decision to shut him out of the law firm’s plans to float on the ASX. 

The wife of a billionaire developer targeted in a $272 million proceeding by the Australian Taxation Office has lost a bid for suppression orders over the affidavits of a tax official she said would cause the couple to suffer reputational and commercial harm.

A judge has struck out a defence invoking the right against self-incrimination in a $2 million case brought by freight company Maersk alleging a Melbourne waste tyre company director used the shipper to dump end-of-life tyres overseas. 

Managing partner of HWL Ebsworth Juan Martinez has lost his bid for an order for costs against a former capital partner in a $4.4 million suit after the partner unsuccessfully sought to have the law firm boss named as representative defendant.

A judge won’t make HWL Ebsworth managing partner Juan Martinez the representative defendant in a former partner’s $4.4 million lawsuit against the firm, saying Martinez’ interests and those of the other partners could diverge.

Approximately 1,000 investors of collapsed stockbroker Halifax Investment Services have challenged a court decision concerning the date of the realisation of their investments which decreased the amounts they could recoup from the company’s liquidation.