Sparke Helmore has refuted allegations by IOOF subsidiary Australian Executor Trustees (SA) that it failed to provide proper legal advice to the trustee on a 2012 pine plantation sale that left 4,500 investors without millions of dollars worth of assets.
IOOF subsidiary Australian Executor Trustees (SA) is facing an $82 million claim for compensation by investors angered by the way the trustee handled the sale of a 42,000 hectare timber plantation run by collapsed forestry giant Gunns Group.
A court has approved a settlement between the liquidators of failed fund manager Equititrust and auditor KPMG, after not a single objection was raised by unitholders or creditors who won’t receive anything after the entire amount is paid to the funder.
The Commonwealth Bank must overhaul its privacy practices as part of a court-enforceable undertaking with the Australian Information Commissioner following two data breaches.
The consumer watchdog has issued fresh proceedings against Optus over its National Broadband Network marketing, alleging the telecommunications giant sent a misleading email to consumers just two days after it copped a $1.5 million penalty for similar conduct.
Media companies facing defamation suits by a former youth centre detainee are liable for third-party comments posted on their Facebook pages, a judge has ruled in a groundbreaking decision.
The Australian Council of Trade Unions and seven other unions have launched legal action on behalf of 27,000 workers over an alleged “sham” bonus scheme designed to pressure staff into accepting a future enterprise agreement.
Global pharmaceutical giant Pfizer has successfully defended the patent for its sedative drug Precedex against a validity challenge, a big win for the drug maker after a US court found last year that its patents for a ready-to-use version of the drug were invalid for obviousness.
ANZ Bank has secured a stay of the corporate cop’s civil penalties proceeding over disclosures related to its $2.5 billion equity capital raising while it fights criminal cartel charges related to the controversial share placement.
Shareholders of troubled sandalwood producer Quintis who are eligible group members in two consolidated class actions against the company can bet on which of the two cases will give them the best returns, if any, and the Federal Court has appointed an independent lawyer to help them make the choice.