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Banks will try to quash ‘incomprehensible’ indictment in ANZ cartel case
Competition & Consumer Protection 2021-02-22 1:26 pm By Miklos Bolza

Global investment banks and executives accused of engaging in criminal cartel conduct in relation to a $2.5 billion ANZ share placement in 2015 will seek to quash the “incomprehensible” indictment filed against them, claiming it is full of “fallacies”.

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44-count indictment filed in ANZ criminal cartel case
Competition & Consumer Protection 2021-02-18 2:57 pm By Spencer Fowler Steen

Forty-four charges have been outlined in a long-awaited indictment in a criminal cartel case over a $2.5 billion ANZ share placement, including 29 charges against top executives from ANZ, Deutsche Bank and Citigroup.

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Liquidators say Arrium directors should have known about ‘liquidity crisis’ sooner
Restructuring & Insolvency 2021-02-15 3:41 pm By Miklos Bolza

The directors of steel giant Arrium, which collapsed owing $4 billion in debts, should have known earlier that the company was in a “liquidity crisis” and was trading while insolvent, liquidators for the company allege.

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With High Court leave, Arrium class action plaintiffs may get second chance to grill ex-director
Restructuring & Insolvency 2021-02-11 10:44 pm By Christine Caulfield

Two shareholders of failed Arrium Group have secured leave from the High Court to challenge a ruling that nixed their planned examination of a former director to bolster a class action over the collapse of the steel producer.

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JPMorgan seeks to shield interview docs in ANZ cartel case
Competition & Consumer Protection 2021-01-27 9:21 pm By Spencer Fowler Steen

While a Federal Court judge recently promised to advance a long-running criminal cartel case against several investment banks and individuals over a $2.5 billion ANZ share placement, a separate judge will soon hear a privilege dispute over documents from whistleblower JPMorganĀ that promises to further delay the case.

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Clients and lawyers with axe to grind a major headache for law firms in 2020
Business of Law 2021-01-13 10:12 pm By Miklos Bolza

While there was no shortage of pain and challenges for law firms as the coronavirus raged across the globe last year, a number of big firms also felt the sting of litigation from disgruntled clients, partners and employees.

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Former Leighton COO David Savage arrested as AFP bribery sting continues
Energy & Natural Resources 2021-01-12 3:31 pm By Christine Caulfield

The Australian Federal Police have arrested a second former high ranking executive associated with Leighton Holdings as part of an ongoing investigation into alleged foreign bribery.

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‘We have to get this case moving’: Judge orders indictment be filed in ANZ cartel case
Competition & Consumer Protection 2020-12-15 12:43 pm By Cat Fredenburgh

The Federal Court judge who is now overseeing a high stakes criminal cartel case against several investment banks and individuals over a $2.5 billion ANZ share placement has ordered that an indictment be filed by February 1, telling the parties “we have to get this case moving” and that he hoped to move the matter to trial “before we all retire”.

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Banksia funder’s son would have confided in friend had he known of dad’s deception, court told
Class Actions 2020-12-11 10:43 pm By Christine Caulfield

The son of the funder behind a class action at the centre of scandalous misconduct claims says he would have sought advice from a family friend if he had realised his father and counsel leading the case were misleading the court to inflate their profits from a $64 million settlement.

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‘I didn’t put two and two together’: Lawyer says he never caught on to misconduct in Banksia case
Class Actions 2020-12-09 10:54 pm By Christine Caulfield

Solicitor Alex Elliott has said it never clicked with him that members of the legal team running the Banksia class action were misleading an appeals court when his father — the mastermind behind the alleged deception — told him to sign cheques for lawyers that they could not cash.

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