Grant Thornton has won approval to a bring a cross-claim against Forge Group, just three months ahead of trial in the collapsed engineering company’s case against the accounting firm and ten former directors for their alleged negligence in relation to its “uneconomic” purchase of CTEC in 2012.
Ernst & Young has delayed in filing its evidence in a lawsuit by Sydney-based investment firm London City Equities over its auditing of collapsed soda ash maker Penrice after hiring Holding Redlich to replace Allens just a few months before a mediation deadline.
Chinese lender Aoyin wants to join Baker McKenzie to its claims against PwC over a failed bid to launch the first Chinese bank incorporated in Australia, after advice documents from the law firm were uncovered in a last-minute privilege fight.
A director of Gold Coast accounting firm Oculus has lost his bid to represent the company in a class action by investors in failed music streaming platform Guvera, with a judge unconvinced the company lacked the means to fund the litigation and finding the director was not suitable to represent the company.
Deloitte has failed to set aside a request for documents recording talks with partners about retirement after they turned 62, in a closely watched age discrimination lawsuit challenging the accounting firm’s mandatory retirement policy.
A judge has ordered the applicant in a shareholder class action against former Arrium directors and KPMG over allegedly misleading statements made ahead of Arrium’s $754 million capital raising in 2014 to explain how the amount by which the mining company’s assets were allegedly overvalued was calculated.
The Australian Taxation Office has told a judge it would be prepared to “give comfort” to PricewaterhouseCoopers that it will not prosecute the accounting giant for tax offences relating to documents at the centre of a court battle over privilege.
The ACCC has approved accounting software provider MYOB’s acquisition of cloud practice management software provider GreatSoft, reversing its earlier position that the deal could harm competition because the South Africa-based company had the potential to become a strong competitor to MYOB as more accounting firms migrate to the cloud.
PricewaterhouseCoopers has won access to communications between a Chinese lender and its lawyers at Baker McKenzie in a legal stoush over a failed bid to launch the first Chinese bank incorporated in Australia.
Accounting firm Findex Australia has lost a bid for the High Court to hear its case over a restraint provision against a former financial advisor found to have been unenforcable.