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Telstra sued for $45M over mobile services contract
New lawsuit 2024-01-24 10:26 pm By Cat Fredenburgh

Kingfisher Mobile, which provides mobile services to Telstra customers, has taken the telecommunications giant to court for allegedly breached its contractual obligations when it engaged a new provider to take over from Kingfisher.

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Cornerstone liquidators can sign funding pact for $46M case against PwC
Professional Negligence 2022-08-30 2:00 pm By Sam Matthews

A judge has granted the liquidators of Cornerstone Investment Australia leave to sign a funding agreement for the insolvent tertiary education providerā€™s $56 million professional negligence claim against accounting firm PricewaterhouseCoopers.

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PwC partners knew of unlawful dividend payment to Cornerstone director, court told
Professional Negligence 2022-07-22 9:55 pm By Cindy Cameronne

PwC partners are facing “very serious” allegations that they had actual knowledge that a $30 million dividend payment to the director of now defunct tertiary education provider Cornerstone was unlawful.

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Halifax investors file Full Court appeal to boost recovery
Restructuring & Insolvency 2021-09-13 1:50 pm By Christine Caulfield

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.

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ACCC wins $1.5M penalty against sporting goods retailer Decathlon
Competition & Consumer Protection 2021-08-17 10:01 pm By Bianca Hrovat

International sporting goods giant Decathlon has been ordered to pay a $1.5 million penalty for selling hundreds of basketball hoops and inflatable swimming pools that did not comply with mandatory safety standards.

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Bank of Queensland’s small business contracts were unfair, court finds
Financial Services 2021-08-13 5:11 pm By Bianca Hrovat

Small business owners who turned to the Bank of Queensland for financial assistance were subject to unfair contract terms that created a “significant imbalance” in the rights of the bank and its customers, a court has held.

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‘A significant imbalance’: Bendigo and Adelaide Bank loan contracts unfair, court finds
Financial Services 2020-05-29 6:01 pm By Miklos Bolza

The Federal Court has granted ASIC a legal win against Bendigo and Adelaide Bank, finding that its small business loan contracts were unfair and created a “significant imbalance” that was likely to detriment customers.

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Viagogo ordered to hand over slew of financial docs ahead of penalty hearing
Competition & Consumer Protection 2019-08-08 3:49 pm By Miklos Bolza

The Australian Competition and Consumer Commission has won its bid for a year’s worth of financial statements from Viagogo, after successfully arguing the online ticket reseller’s financial position was needed to determine an appropriate penalty for its violations of the Australian Consumer Law.

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Judge dismisses ‘puzzling’ bid to boot FW Projects liquidators
Restructuring & Insolvency 2019-07-18 8:49 pm By Miklos Bolza

Two construction companies have lost what a court has called a “puzzling” bid to oust the liquidators of collapsed FW Projects amidst a legal battle in the NSW Supreme Court over the property developer’s remaining assets.

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Ex-Babcock & Brown execs dodge case over botched $1.4B acquisition
Corporate 2019-05-14 10:00 pm By Christine Caulfield

A court has dismissed a long-running case against defunct Babcock & Brown executives by a private investment fund over a botched $1.4B acquisition of the biggest laundry equipment provider in the US, saying the executives did not breach their duties by failing to disclose that the bank underwriting the deal allegedly wanted out.

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