Rail freight operator Aurizon has triumphed in a tax dispute with the ATO, with a court finding that credit for a $4.4 billion loan by the Queensland government made during an initial public offering in 2010 was share capital despite no shares being issued to the state government.
KPMG has again been targeted in a class action by shareholders of a defunct mining company, this time over allegedly misleading statements made by CuDeco ahead of a $63 million capital raising in 2016 and before the company’s collapse in 2020.
Johnson Winter & Slattery has snagged two tax bigwigs from Deloitte and KPMG Law to meet growing client demand for tax advice from law firms.
A funder that’s helping foot the bill in a class action against Arrium’s former directors and KPMG may withdraw support if the law firm that’s running it is not granted an order awarding it 40 per cent of any award or settlement.
Accounting giant KPMG is seeking the dismissal of a lawsuit brought by a former long-serving employee over “unnecessarily aggressive, belittling and disproportionate” emails allegedly attacking his professional integrity.
Shareholders in a class action against failed steel giant Arrium and KPMG are seeking an unredacted version of an audit file by KPMG to probe the accounting giant’s handling of the steel producer’s financial statements before its collapse in April 2016.
KPMG has been hit with a lawsuit by a principal director who claims he was told to “change and adjust” to “belittling and disproportionate attacks” by a partner on the debt advisory team.
The Victorian Supreme Court will push ahead with a hearing for a group costs order in a class action by Arrium shareholders despite requests by the applicants that it be put off until after judgment is issued on the second-ever group costs order request.
It has been described as the darkest chapter in Victoria’s legal history, an exemplar of all that is terrible with class actions in Australia. A case of greedy lawyers who found their golden egg in a group of retirees who had lost their life savings, never thinking the chickens might come home to roost. Until now.
Two shareholders of failed Arrium Group have secured leave from the High Court to challenge a ruling that nixed their planned examination of a former director to bolster a class action over the collapse of the steel producer.