Freedom Foods and its auditor Deloitte are facing a class action investigation after a bombshell announcement of more than $590 million in write-downs stemming from accounting irregularities stretching back several years.
Deloitte Touche Tohmatsu is seeking to strike out the misleading and deceptive conduct claims in a $4 million age discrimination lawsuit brought by a former partner, calling them “farcical” and “absurd”.
Deloitte Touche Tohmatsu has asked a court to toss a majority of claims in a lawsuit brought by 63-year-old partner Colin Brown over the firm’s alleged discriminatory retirement policy that he claims has cost him almost $4 million.
The director of besieged investment group Mayfair 101 has called for an investigation into the Australian Securities and Investments Commission, calling a winding up proceeding brought by the financial watchdog “a form of malicious prosecution” based on a “flawed fundamental misunderstanding” and supported by an erroneous report from auditor Deloitte.
A 63-year-old partner of Deloitte Touche Tohmatsu is suing the accounting giant and CEO Richard Deutsch alleging the firm’s mandatory retirement policy is discriminatory and has cost him almost $4 million.
Virgin Australia unsecured bondholders have launched an application with the Takeovers Panel in a bid to stop the sale of the embattled airline to Bain Capital, claiming certain elements of the administration process were āunacceptableā.
Virgin’s administrators have reached a deal with Bain Capital to buy the airline and its subsidiaries, saying Friday US investment firm had made a “strong and compelling” bid to keep Australiaās second airline operating and secure the jobs of thousands of workers.
Virgin Australia’s administrators have whittled down the list of eligible bidders for the struggling airline to two, with investment firm Bain Capital and private equity investor Cyrus Capital Partners the only potential purchasers allowed to make final offers.
Embattled Virgin Australia has entered voluntary administration after the Morrison government knocked back its plea for a $1.4 billion lifeline, the airline confirmed Tuesday.
Ashurst has brought on former Deloitte senior partner Philip Hardy to help launch its consulting arm to compete with the big four firms, and the law firm says Hardy’s experience will be an asset as it manages the challenges of COVID-19 on clients’ businesses.