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Deloitte appointed administrators of Keystone despite ‘baggage’
Financial Services 2024-09-05 11:24 pm By Cindy Cameronne

A judge has ruled that two Deloitte partners can act as administrators for embattled wealth manager Keystone, replacing two voluntary administrators from KordaMentha, despite an alleged risk of conflict due to past work for the company.

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Breakdown in friendship between ANZ, Barclays bankers unfortunate, not unfair: court
Real Estate 2024-09-05 11:23 pm By Andy Sidler

A breakdown in the relationship of two high-flying friends — former senior ANZ executive David Carr and Barclays top banker Ivan Ritossa — was not a reason to order the winding up of the pair’s property investment trust, a court has found.

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Tesla CEO Robyn Denholm did not use ā€˜Wollemiā€™ trade marks, court told
Intellectual Property 2024-09-02 11:04 pm By Sam Matthews

CBA-backed climate venture capital firm Wollemi says that Tesla CEO Robyn Denholm did not use ā€˜Wollemiā€™ and ā€˜Wollemi Capitalā€™ as trade marks ā€œat any point in timeā€, as it seeks to defeat Denholmā€™s appeal of a decision which rejected her family officeā€™s opposition to registration of the marks.

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World Touring Melbourne wins $2.8M over concert cancelled during COVID pandemic
Competition & Consumer Protection 2024-08-30 11:01 pm By Andy Sidler

The Australian Grand Prix Corporation will pay $2.84 million in damages for losses incurred by concert organisers for the cancellation of the 2020 Melbourne Formula One cup and a related Robbie Williams concert during the COVID-19 pandemic.

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Receivers appointed to Keystone fund amid ā€˜grave concernsā€™ over $160M transactions
ASIC 2024-08-27 11:01 pm By Cindy Cameronne

ASIC has won its bid to appoint receivers to a managed investment scheme run by Keystone Asset Management after expressing “grave concerns” that investor funds were used to pay sports stars and buy a $4.3 million home for its former director.

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High Court appeal seeks total knockout of common fund orders
Appeals 2024-08-05 11:16 pm By Sam Matthews

The High Court has been asked to overturn a Full Court decision finding lawyers can take a cut from a class action settlement under a solicitorsā€™ common fund order and to finally settle the question of whether the court has the power to issue common fund orders at all.

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Firm accused of copying rivals’ class action pleadings loses IC Markets beauty parade
Class Actions 2024-08-02 10:13 am By Cat Fredenburgh

Two judges have declined to award carriage of a class action against International Capital Markets over risky derivative products to a firm accused of plagiarising its rivals’ pleading.

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AFL player Cyril Rioli brings race discrimination case against Hawthorn Football Club
Human Rights 2024-07-26 11:43 pm By Christine Caulfield

AFL player Cyril Rioli has launched legal action in the Federal Court against Hawthorn, accusing his former club of race discrimination in breach of the Australian Human Rights Act.

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Merricks Capital settles non-compete case with investment boutique, employees
Real Estate 2024-07-26 11:57 pm By Christine Caulfield

Investment manager Merricks Capital has resolved its case against a former managing director and two employees, who left the firm for a boutique run by financial commentator Peter Switzer and his son, Marty.

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Contingency fees for class action lawyers are allowed, says Full Court
Class Actions 2024-07-05 11:05 am By Cindy Cameronne

Lawyers are allowed to take a cut from a class action settlement or judgment under a so-called solicitorsā€™ common fund order, the Full Federal Court has ruled, saying they are a permissive use of the courtā€™s power.

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