The Star is challenging a finding from the commissioner of taxation that the casino giant owes $5.3 million on payments made to junket operators, arguing the payments were not ‘payments for operating or promoting a junket’.
Crown Resorts is seeking $10 million in security for costs from the law firm running a shareholder class action accusing it of lax anti-money laundering compliance, arguing the sum is justified in light of the firm’s potential recovery under a tiered group costs order.
Star Entertainment has made admissions in AUSTRAC’s action alleging non-compliance with anti-money laundering and counter-terrorism financing laws, but there are still substantial issues in dispute, a court has heard.
Global cryptocurrency and gambling website Stake.com is fighting to strike out claims in a lawsuit by Sydney-based online investment platform Stake over a planned Australian launch.
The winning, 14 per cent contingency fee proposal by Slater & Gordon in a fight to run a class action against Star Entertainment was not driven by a desire to prevail in the contest and buy market share but was the product of a “reasoned decision” that took into account the law firm’s practice as a whole, a judge has found.
Star Entertainment coughed up $595 million in regulatory and legal costs in the 2023 financial year, as it faces ongoing disputes with ASIC and AUSTRAC and an $80 million class action.
SkyCity may be the first company to test the strength of AUSTRAC’s claims in court, according to a judge who recently said in a separate case that the regulator’s habit of agreeing to penalties could give rise to a “moral hazard”.
A judge has approved a $450 million penalty put forward by Crown Resorts and AUSTRAC despite reservations about evidence going to the casino operator’s financial position.
The judge asked to approve a proposed $450 million penalty in AUSTRAC’s case against Crown Resorts has questioned whether the practice of regulators settling enforcement action ahead of trial gave rise to a “moral hazard” problem.
A proposed interest-free payment plan for a $450 million penalty agreed to between Crown Resorts and AUSTRAC has been questioned by a judge, who said it would have “the Commonwealth of Australia act as the Crown’s banker” for two years.