Liberty Mutual Insurance does not have to indemnify dam operator Sunwater for its share of a $440 million settlement of the Queensland floods class action, the NSW Supreme Court has found.
A lawyer for Rentokil has told a court the pest control company is scratching its head over the defence by a former manager accused of a $3.2 million fraudulent invoice scheme, noting the employee admits invoices were paid into his personal account.
Logistics company GetSwift says it is considering an appeal of an 859-page judgment which lambasted the company and its directors’ “public relations-driven approach” to announcements on the Australian Stock Exchange.
The Australian Securities and Investments Commission has scored a victory in its long-running case against GetSwift, with the Federal Court finding the company and its directors breached the Corporations Act and ASIC Act through their “public relations-driven approach” to announcements on the Australian Stock Exchange.
An ex-Rentokil supply manager has admitted that payments from the pest control company totalling $3.2 million were sent to his bank accounts but has denied this was part of a fraudulent invoicing scheme.
Pest control company Rentokil has won an urgent bid to freeze its former supply manager’s assets after he allegedly stole $3.2 million from the company by creating false invoices on his work laptop.
A unit of Standard Chartered Bank has prevailed in a securities spat with Energy World Corporation, which has been ordered to approve a $64.4 million note transfer and pay $42.2 million to the Singapore-based bank.
ASIC’s case against GetSwift and its founders Joel Macdonald and Bane Hunter makes accusations against both directors but relies on alleged conduct by only Hunter, a lawyer for Macdonald has told a court on the last day of trial in the corporate regulator’s case.
The judge overseeing ASIC’s case against logistics provider GetSwift cannot draw any inferences against the company because directors Bane Hunter and Joel Macdonald did not give evidence at trial, GetSwift’s barrister has said during closing submissions in the case.
Sydney businessmen Charif and Tarek Kazal have appealed a ruling that found their claims against Gilbert + Tobin over an alleged dishonest scheme to rob them of a 50 per cent stake in a lucrative Sydney waste facility were “fundamentally incoherent”.