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Fintech BPay sues crypto platform Be Pay for trade mark infringement
Intellectual Property 2024-04-16 1:33 pm By Cindy Cameronne

Electronic payment solutions company BPAY has filed a lawsuit accusing crypto platform owner Be Pay Australia of infringing its BPAY trade mark.

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Court blesses Halifax liquidators’ settlement with King & Wood Mallesons
Restructuring & Insolvency 2024-04-15 11:10 pm By Cat Fredenburgh

The liquidators for Halifax Investment Services were justified in reaching a compromise settlement in proceedings against King & Wood Mallesons alleging the firm and former auditor Bentleys failed to advise the defunct stockbroker that it had to hold client funds used to trade on its online platform on trust, a judge has found.

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Nature’s Care majority shareholders to foot the bill for fight with founding family
Corporate 2024-04-15 11:33 pm By Sam Matthews

The majority shareholders of vitamin giant Nature’s Care have been hit with the costs of the company’s failed bid for an injunction against its founding family, after a judge found the shareholders appear to have caused proceedings to be commenced as part of a strategy to “override the rights” of the family. 

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Super fund faces $40M class action by transport workers
Class Actions 2024-04-12 3:19 am By Cat Fredenburgh

Transport workers have lodged a $40 million class action against one of the country’s largest super funds for allegedly miscalculating their superannuation entitlements.

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Aristocrat’s 6-year battle to patent Lightning Link poker machine ends in defeat
Intellectual Property 2024-04-12 9:30 pm By Cindy Cameronne

A judge has ruled gaming giant Aristocrat Technologies cannot patent its Lightning Link electronic poker machine, after six High Court Justices split on whether the popular game was eligible for patent protection.

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GEMI Capital may face class action by wealthy Sydney investors
Class Actions 2024-04-12 11:00 pm By Andy Sidler

Sydney lender GEMI may face a class action for allegedly enticing wealthy individuals to make investments in products they were misled into believing were low risk.

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ASIC wins case against payday lender Sunshine Loans over ‘wrongheaded’ fees
Financial Services 2024-04-12 11:08 pm By Sam Matthews

In a win for the Australian Securities and Investments Commission, a judge has found that payday lender Sunshine Loans charged thousands of customers prohibited fees, issuing a scathing judgment condemning the company’s “wrongheaded” conduct.

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Prosecutors drop criminal case against Meta over scam crypto ads
White Collar 2024-04-12 4:27 am By Cat Fredenburgh

A criminal case against Facebook owner Meta sparked by mining magnate Andrew Forrest over scam cryptocurrency ads has been dropped, while a similar case by the Australian Competition and Consumer Commission remains on foot.

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Law firm will try to claim funder’s cut as damages in Murray Darling class action
Class Actions 2024-04-12 10:12 pm By Cindy Cameronne

A class action against the Murray Darling Basin Authority over alleged negligent water management is seeking to claim a funder’s commission as damages after a judge refused the first-ever such bid in a separate group proceeding. 

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Maggie Beer faces court challenge over earnout on $40M acquisition
Corporate 2024-04-12 11:35 pm By Cindy Cameronne

ASX-listed gourmet food company Maggie Beer has been dragged to court by the founders of Hampers & Gifts Australia over a $10 million earnout that was part of a $40 million agreement to acquire the e-commerce company in 2021. 

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