Judges

Mastercard has hit back at the ACCC’s claims that it sought to prevent competition with EFTPOS through strategic agreements with large retailers, saying the deals were struck for “benign and pro-competitive” reasons. 

In the first shareholder class action to succeed at trial in Australia, a judge has found logistics chain company Brambles breached its continuous disclosure obligations in relation to an overly rosy 2017 financial forecast amid problems with its North American pallets business.

Mastercard made ‘strategic’ agreements with large retailers like Coles and David Jones to keep them from routing through EFTPOS, offering discounted exchange rates that left smaller businesses footing the bill, the ACCC told the court on the first day of trial.

The Full Court has found that a pleading error in an underpayments class action against The Reject Shop which left it empty of group members can be fixed but that the amended pleading cannot be backdated.

The funder that's backing a class action over land compulsorily acquired for Sydney's WestConnex road project has been ordered to pay security in satellite proceedings seeking to claw back $1.4 million in costs from the lead applicants.

A self-disclosed error in modelling by the law firm that ran a class action against Hino Motors has cost the firm an even deeper cut to its payout than the $6 million lopped off its settlement share last year.

Institutional asset manager IFM Investor was ready to sweep up Dexus' shares in Melbourne Airport operator APAC under a forced sale process triggered by a default notice for alleged confidentiality breaches, a court heard Tuesday.

Queensland developer York Property has lost its appeal of a ruling that held an adjudicator erred in finding $4.7 million in costs over alleged façade defects should be deducted from amounts owed in a payments spat with a builder Tomkins. 

A deed of company arrangement for three companies associated with developer Descon-Adcon has fallen apart after former boss Danny Isaac failed to make a $5 million contribution required under the rescue plan. 

The chair of airport operator APAC has admitted redacting advice from Herbert Smith Freehills Kramer to remove a suggested remedy for major shareholder Dexus' alleged breach of confidentiality, but denies she misled the board.