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‘Not a single note’: ACCC accused of avoiding disclosure in ANZ cartel case
Competition & Consumer Protection 2020-07-21 11:18 pm By Miklos Bolza

The ACCC’s investigatory techniques have come under fire during a hearing over an alleged criminal cartel agreement between ANZ and two investment banks, with a barrister for one of the banks suggesting investigators from the regulator deliberately did not take notes during hundreds of days of witness interviews to avoid disclosure.

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JPMorgan disputed existence of cartel agreement with ANZ, court hears
Competition & Consumer Protection 2020-07-20 8:31 pm By Miklos Bolza

Despite receiving immunity in a criminal cartel case against ANZ and two other investment banks, JPMorgan has disputed the existence of any cartel agreement since the early days of the ACCC’s investigations, a court has heard.

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Judge slashes security request in $46M Quintis insurance dispute
Class Actions 2020-07-13 8:30 pm By Alison Eveleigh

A judge has cut a request a security for costs in half in insurance rectification proceedings stemming from two class against sandalwood producer Quintis, saying the amount proposed by the funders bankrolling the case was “quite generous”.

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Virgin bondholders fail to get hands on confidential Bain Capital sale docs
Restructuring & Insolvency 2020-07-10 1:15 pm By Alison Eveleigh

Virgin Australia unsecured bondholders contesting the sale of the embattled airline to private equity firm Bain Capital have failed in their bid to access confidential transaction documents, but a judge has urged the administrators to communicate with the frustrated creditors.

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Goodman Fielder gets green light to reopen $1.25M GrainCorp case
Contracts 2020-06-10 6:31 pm By Alison Eveleigh

A court has given Goodman Fielder the green light to reopen its breach of contract case against GrainCorp to submit further evidence on potential damages.

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Short seller Bonitas ordered to pay $900,000 over misleading report on Rural Funds
Securities 2020-04-01 9:52 pm By Christine Caulfield

Activist short seller Bonitas Research must pay Rural Funds Management almost $900,000 after the US-based Bonitas was found to have engaged in misleading or decpetive conduct in issuing a report describing the agricultural fund manager’s equity as “ultimately worthless”.

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Rural Funds wants $625,000 in damages from US short seller Bonitas
Securities 2020-03-06 12:48 pm By Miklos Bolza

Agricultural fund management firm Rural Funds Management is seeking over $625,000 in damages from US short seller Bonitas Research, which was found by the NSW Supreme Court to have engaged in misleading and deceptive conduct in a report describing RFM’s equity as “ultimately worthless” that sent the firm’s share price plummeting.

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Rural Funds wins unprecedented case against activist short seller Bonitas
Securities 2020-02-12 10:55 pm By Cat Fredenburgh

Australian agricultural fund manager Rural Funds Group has won its legal action alleging US short seller Bonitas Research engaged in misleading and deceptive conduct when it described the group’s equity as “ultimately worthless” and sent its share price plummeting.

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Magistrate in ANZ cartel case shuts down ‘back door’ bid to expand JPMorgan witness grilling
Competition & Consumer Protection 2019-12-13 4:46 pm By Miklos Bolza

A magistrate has dismissed a bid to expand the cross examination of a JPMorgan witness in the closely watched criminal cartel case over a $2.5 billion ANZ share placement, calling it a “back door” attempt to bypass a prior court ruling.

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Lloyd’s loses bid for quick dismissal of NAB’s $655M insurance lawsuit
Insurance 2019-09-23 8:46 pm By Cat Fredenburgh

Three syndicates of Lloyd’s London have failed in their bid to toss a case brought by National Australia Bank seeking £357 million ($655 million) in insurance claims relating to two consumer redress schemes in the UK.

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