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Arrium shareholders in class action can’t access full KPMG audit file
Class Actions 2022-02-04 1:59 pm By Cat Fredenburgh

Shareholders in a class action against failed steel giant Arrium and KPMG have lost their bid for KPMG’s complete audit file for Arrium to probe the Big Four accounting firm’s handling of the steel producer’s financial statements before its collapse in April 2016.

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Meta, Instagram lose appeal bid to arbitrate startup’s competition case
Competition & Consumer Protection 2022-02-04 1:58 pm By Christine Caulfield

An appeals court has dismissed a second attempt by Meta and Instagram to shut down a misuse of market power case by a Melbourne-based social media startup.

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‘Shoot him or I will’: Mounting allegations of civilian murder at Ben Roberts-Smith trial
Defamation 2022-02-04 2:39 pm By Bianca Hrovat

Eight rounds of ammunition were unloaded into the chest, neck and face of an Afghan man after decorated war veteran Ben Roberts-Smith told a subordinate to, “Shoot him or I will”, a court has heard.

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Salter Brothers investment in advisory firm Hendry Group ‘worthless’, court hears
Competition & Consumer Protection 2022-02-04 2:24 pm By Christine Caulfield

Salter Brothers’ multmillion dollar investment in advisory firm Hendry Group is worthless, a court has been told in the fund manager’s case alleging it was the victim of miseleading representations.

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Google can’t shut down Epic Games’ misuse of market power case
Competition & Consumer Protection 2022-02-04 7:24 pm By Sam Matthews

Google has failed in its bid to stay a competition lawsuit brought by Epic Games, after failing to show that the Fortnite game maker would not be disadvantaged if the case were heard in California instead.

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Forum director Tesoriero questions sale of Papas’ Sydney residence
Restructuring & Insolvency 2022-02-04 12:34 pm By Cat Fredenburgh

Forum Finance director Vince Tesoriero has raised concerns about the validity of the sale of a $4 million home in Sydney inner-West suburb Rozelle where company founder Bill Papas and his girlfriend lived, but a judge has indicated any attempt to block the sale would be “hopeless”.

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RMS Engineering settles workers’ class action over meal breaks
Class Actions 2022-02-04 3:10 pm By Christine Caulfield

Queensland-based RMS Engineering and Construction has settled a class action alleging it refused to give staff meal breaks and threatened those who complained about excessive hours.

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Nine can argue MP Andrew Laming a ‘creep’ in defamation defence
Defamation 2022-02-04 10:38 am By Cat Fredenburgh

A judge has allowed Nine Network to claim that MP Andrew Laming is a ‘creep’ in its contextual truth defence to the Queensland politician’s defamation lawsuit over a news segment that accused him of taking a lewd photograph.

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IOOF unit fined $6M for financial adviser’s bad advice
Financial Services 2022-02-03 6:26 pm By Cat Fredenburgh

A judge has hit IOOF unit RI Advice with a $6 million penalty for failing to rein in an adviser who reaped hefty commissions for steering clients towards risky investments, despite earlier expressing concerns the penalty may not have enough sting.

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Money transfer business directors face jail in first criminal cartel sentencing of individuals
Competition & Consumer Protection 2022-02-03 1:47 pm By Christine Caulfield

The directors of two money transfer businesses will be the first individuals to be sentenced for criminal cartel offences after pleading guilty Thursday to charges over the fixing of foreign exchange rates.

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