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.
Two executives of failed car washing franchise Geowash have failed in their attempt to overturn a $2.7 million penalty for overcharging and misleading franchisees, with the Full Court finding they had engaged in “a consistent pattern of conduct which was deceitful and dishonest”.
Lex Greensill will need to pay tax on $58 million in capital gains, after losing a challenge to a tax assessment which included non-Australian gains from the sale of Greensill shares distributed to the founder of the collapsed collapsed UK-based supply-chain finance firm.
Engineering giant UGL will file proceedings against two unions seeking to block them from funding an underpayments class action on behalf of casual workers, with a judge noting the Full Court may need to weigh in on whether unions can fund class actions.
Freedom Foods’ dispute with Blue Diamond Growers over an almond licensing deal will be heard by an arbitrator in California after an appeals court rejected the company’s plea for an Australian judge to determine the case.
Fossil fuel giant Shell Australia has partially won a challenge to a tax office decision denying deductions claimed over an acquisition the increased the company’s stake in Woodside Energy’s Browse Basin gas exploration joint venture project.
A Perth director of six companies that were wound up owing $100 million to creditors has dropped a challenge to his disqualification by ASIC, after unsuccessfully arguing before the Full Court that an email from the corporate regulator forwarded by his lawyer did not constitute proper service.
Construction company Clough Limited has appealed a ruling that found it cannot claim over $15 million paid to employees for cancellation of their shares and options as a tax deduction.
The Full Federal Court has ruled that unconscionable conduct under the Australian Consumer Law is not confined to exploitation of vulnerable parties, in an “extremely significant” judgment that will extend the reach of the unconscionable conduct provisions and protect a wider swathe of consumers.
The High Court will weigh in on a dispute between the Port of Newcastle and mining giant Glencore over access charges to shipping channels used to export coal from the Hunter Valley.