Nicholas Derrington

Billabong founder Gordon Merchant has lost his challenge to a decision by the ATO to increase his tax liability to $31 million, finding that he conducted a “wash sale” of his Billabong shares and engaged in dividend stripping on the sale of bio plastics manufacturer Plantic Technologies. 

The High Court has declined to review an appeals court decision that overturned a $106 million judgment against a unit of Indian conglomerate Adani Group over access charges for its Abbot Point coal terminal.

The High Court has declined a special leave application by Clive Palmer-owned mining firms challenging a judgment which ordered the billionaire to repay a $102 million loan taken out from Queensland Nickel prior to its collapse in 2016.

A subsidiary of Indian conglomerate Adani Group has successfully overturned a $106 million judgment against it over access charges for its Abbot Point coal terminal.

Clive Palmer will seek special leave from the High Court to appeal a ruling from the Queensland Court of Appeal ordering him to return $102 million borrowed before the collapse of Queensland Nickel in 2016, and has demanded that the company’s liquidators return the money he paid following the ruling.

The failed franchisor behind the Jump Swim Schools brand has been hit with a $23 million penalty for what a Federal Court judge found were “very serious” consumer law contraventions.

Two Clive Palmer companies have been slugged with indemnity costs after they were blocked from accessing documents held by two law firms and a litigation funder to pursue a potential lawsuit against Queensland Nickel, with a judge saying the case was “hopeless” from the start.

The receivers for funds manager Equititrust, who are suing the name partners of law firm Tucker & Cowen, have failed in their bid to have further security for costs paid in the form of deeds of indemnity, despite telling the court that funder Vannin might withdraw its support for the litigation.

A court has ordered a subsidiary of Indian conglomerate Adani Group to pay more than $106 million to four coal mining companies after finding the mining company engaged in “dishonest behaviour” and misled the court.