A judge has deferred the question of what penalties Harvey Norman and Latitude Finance should face in a case by ASIC until their appeals are heard, noting the “regrettable” fragmentation of the case.
ASIC has attacked an appeal argument by payday lenders BSF Solutions and Cigno that athough they offered short-term loans, the fees they charged had no link to the credit services.
Rugby Australia is considering an insolvent trading cross-claim against the directors of the Melbourne Rebels, in a suit by the failed team which was cut from next year’s Super Rugby Pacific competition.
A class action on behalf of AFL players who allegedly suffered brain injuries has added plaintiff Max Rooke’s former club to the case, and plans to file a separate action against the remaining clubs.
A judge has ordered Mercer Superannuation to pay $11.3 million for “reckless, if not deliberate” representations about so-called sustainable investment options that included investment in oil and gas companies, including BHP and Origin Energy.
The owner of a major coal power station in Western Australia has lost its bid for an inquiry into alleged misconduct by the receivers of collapsed Griffin Coal after they tried to avoid obligations under coal supply agreements, with a judge saying the allegations were “relatively trivial”.
The liquidators of collapsed engineering company Hastie Group have lost their bid to appeal a decision that knocked out half its $120 million case against Multiplex, Lendlease and numerous other builders.
Herbert Smith Freehills has filed proceedings against its former client United Petroleum, seeking costs of successfully defending a lawsuit alleging it acted negligently in relation to the company’s failed initial public offering in 2016.
Russia’s largest aluminium producer UC Rusal has lost a breach of contract lawsuit brought against six Rio Tinto companies after they refused to deliver alumina under a joint venture agreement on the basis that doing so would cause them to run afoul of export sanctions imposed after Russia invaded Ukraine.
A judge has reluctantly hit Westpac with a $1.8 million penalty after the bank admitted to unconscionable conduct when trading on the morning of a $16 billion deal to privatise electricity provider Ausgrid, saying it was the maximum fine allowed under the relevant law.