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EX-ANZ money markets head says he was fired after complaining about sexual harassment, APRA reporting
Employment 2022-03-23 5:31 pm By Cindy Cameronne

The former head of money markets at the Australian and New Zealand Banking Group has sued his former employer claiming he was sacked for making complaints about sexual harassment by senior managers at the bank and false reporting to the prudential regulator.

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ACCC says agreement to settle Revlimid patent suit could violate cartel laws
Intellectual Property 2022-03-23 2:53 pm By Cat Fredenburgh

The ACCC has refused to authorise a patent settlement and license agreement between Bristol-Myers Squibb unit Celgene and two generic drug makers who sued to invalidate the patents for its blockbuster cancer drug Revlimid, saying it could distort competition between generic drug makers.

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Judge clarifies rights of responsible entities to recoup MIS costs
Financial Services 2022-03-23 4:22 pm By Miklos Bolza

A Federal Court judgment has laid out when a responsible entity of a managed investment scheme will be indemnified for its operating costs and when it can recoup legal costs in defending lawsuits brought over trust property.

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High Court to hear Spain’s sovereign immunity claims in $375M arbitration dispute
High Court 2022-03-23 10:23 pm By Cat Fredenburgh

The High Court has agreed to weigh in on whether an Australian court’s recognition of a $375 million international arbitration award against the kingdom of Spain violated the sovereign immunity doctrine.

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IAG appeals to High Court, says JobKeeper should offset any COVID-19 payouts
Insurance 2022-03-22 10:38 pm By Christine Caulfield

While mostly prevailing in test cases over coverage for COVID-19 business interruption claims, Insurance Australia Group has asked the High Court to weigh in on what it says is a “radical” approach by an appeals court in the treatment of JobKeeper payments.

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Court appoints contradictor in class action funder’s challenge to MIS rules
Class Actions 2022-03-22 3:59 pm By Miklos Bolza

The Full Federal Court has appointed a contradictor to “take up the cudgels” against funder Litigation Capital Management, which has challenged a judgment refusing to find that a class action filed against Queensland electricity operators was not a managed investment scheme.

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Greensill says insurer BCC liable for misleading statements if IAG right
Insurance 2022-03-22 3:01 pm By Christine Caulfield

Insurance Australia Group agent Bond & Credit Company owes damages for misleading representations to Greensill Capital if the insurer was not authorised to enter into a trade credit policy at the centre of four lawsuits over the collapse of the financial services firm, a court has been told.

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Qantas hit with $72M suit over cuts to catering services during COVID-19 pandemic
COVID-19 2022-03-22 10:19 pm By Cat Fredenburgh

An Emirates-owned provider of in-flight catering services has taken Qantas to court claiming it’s owed $72.5 million after the airline cut its services during the coronavirus pandemic.

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High Court grants Western Power special leave in bushfire class action
High Court 2022-03-22 2:17 pm By Miklos Bolza

The High Court will hear a challenge by Western Power to an appeals court judgment which found that the state-owned electricity supplier breached its duty of care to inspect power poles on private land and was partly liable for property damage from the 2014 Perth Hills bushfire.

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Developer misled buyers of $9.58M South Yarra apartment with ‘artistic impression’
Real Estate 2022-03-22 4:17 pm By Cindy Cameronne

Property developer JD Group will have to pay damages to a Melbourne couple after a judge found the company’s artistic renderings of a $9.58 million South Yarra apartment were “deliberately misleading”.

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