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Bitter dispute ends in cancellation of ‘Urban Ale’ trade mark
Intellectual Property 2020-02-07 7:41 pm By Miklos Bolza

A Melbourne-based craft brewery has had its ‘Urban Ale’ trade mark cancelled, with a judge finding other beer makers might want to use the words to describe their products and that cancelling the mark would be in the public interest.

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ACCC slammed for ‘opaque’ demands in misuse of market power case against TasPorts
Competition & Consumer Protection 2020-02-07 5:49 pm By Christine Caulfield

A lawyer for Tasmanian state government owned ports company TasPorts has criticised the ACCC’s first-of-its kind case that alleges it is misusing its market power to stymie competition, saying it isn’t clear what the regulator wants the court to do.

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ANZ wins fight for ASIC docs in cartel case, but battle might not be over
Competition & Consumer Protection 2020-02-07 3:10 pm By Miklos Bolza

ANZ has won access to documents the bank claims are crucial to its defence in a high stakes criminal cartel case, but the Australian Securities and Investments Commission has flagged a possible appeal of the ruling.

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Ex-Atrum Coal boss ordered to repay $6M to Hong Kong finance group
Financial Services 2020-02-06 5:44 pm By Miklos Bolza

A former director of Atrum Coal has been ordered to pay over $6 million owed to a unit of Hong Kong finance giant Argonaut Group after a prior default saw the former executive lose $12 million worth of shares in the company.

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Chinese investors can offload property, recoup losses from failed investment scheme
Real Estate 2020-02-06 3:05 pm By Miklos Bolza

A Gold Coast development property procured through a settlement with a Sydney-based financial advisory firm facing two separate class actions can be sold to recoup losses by investors who sank over $14 million into a property investment scheme, a court has found.

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Sydney light rail case ‘wholly unsuitable’ as a class action, Transport for NSW tells court
Class Actions 2020-02-06 1:44 pm By Miklos Bolza

The NSW government has flagged a possible challenge to a class action over Sydney’s $3 billion delayed light rail project as the four-week trial scheduled for June is pushed back another year to allow time for more discovery.

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High Court won’t hear landowners case over payout for WestConnex project
Real Estate 2020-02-05 10:25 pm By Christine Caulfield

Three Sydney commercial landlords whose properties were compulsorily acquired to make way for the WestConnex project have come to the end of the road in their fight for $56.5 million in compensation, with the High Court refusing to hear their case.

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ASIC wins case over options trader’s ‘deliberate deception’
Financial Services 2020-02-05 4:09 pm By Miklos Bolza

ASIC has chalked up a victory in a long-running case against a Marshall Islands-based binary options trader, with a judge finding the trader engaged in the “deliberate deception of vulnerable people”.

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Judge hits AMP with $5.2M penalty, says greedy financial adviser was ‘in the right place’
Financial Services 2020-02-05 11:05 am By Miklos Bolza

The Federal Court has imposed a penalty of almost $5.2 million on AMP Financial Planning after finding it was “reckless” in its “lamentable failure” to properly respond to a now banned adviser who was churning life insurance for higher commissions.

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Vocus class action to seek first common fund order since High Court ruling
Class Actions 2020-02-04 7:23 pm By Christine Caulfield

The funder behind the recently resolved shareholder class action against teleco Vocus will ask a judge to make a common fund order at a hearing to approve a $35 million settlement of the case, the first common fund order since the High Court appeared to put the kibosh on them.

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