Former Quantum Resources CEO and director Avrohom Kimelman faces up to 20 years in jail after pleading guilty to charges of insider trading and conspiring to manipulate the market in shares of the company, now known as Nova Minerals.
The widow of mining executive Ken Talbot has lost a bid to act for two of her daughters in a negligence case over the handling of her late husband’s estate against law firms Arnold Bloch Leibler and Boyd Legal, with a judge finding claims by the mother and daughters were “directly competing and contrary”.
Victorian electric utility Sumo Power has been fined $1.2 million for luring customers with the promise of discounts and low rates only to jack up their prices months later.
Clive Palmer and his company Mineralogy have lost a challenge to a Western Australia Supreme Court decision staying a $263 million lawsuit against Hong Kong-based CITIC, with an appeals court finding the mining giant’s decision to abandon and relitigate matters amounted to “unjustified trouble and harassment”.
Energy generator Stanwell has filed a lawsuit seeking to shut down the funding for a class action brought on behalf of 50,000 customers accusing it of gaming Queenland’s energy pricing system, alleging funder LCM lacked the required licence to back the case and did not register the class action as a managed investment scheme.
US chemical company Quaker Chemical is seeking special leave from the High Court to appeal a Full Court judgment that found its patents for quickly detecting high pressure fluid injection injuries on site were not novel because the company had disclosed them in public prior to applying for registration with IP Australia.
The ATO is challenging a judge’s decision to allow oil giant Shell Australia $2.2 billion in deductions for the cost of certain exploration activities conducted under an acquisition that increased its stake in Woodside Energy’s Browse Basin gas exploration joint venture project.
Mineralogy is seeking declarations that its 2014 financial statements were true and fair in a court case ASIC has called a “collateral attack” on criminal proceedings brought against Clive Palmer over $12 million spent on his political aspirations.
Law firm Slater & Gordon is investigating a shareholder class action against Australia’s largest onshore oil producer Beach Energy, following a significant decline in its projected earnings from oil reserves on the Western Flank in South Australia.
The Australian Competition and Consumer Commission is seeking a $1.2 million penalty against Victorian electric utility Sumo Power for luring customers with the promise of discounts and low rates only to jack up their prices months later.