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ATO’s ‘all or nothing’ approach to key tax law provision rejected by court
Tax 2024-05-06 11:59 am By Sam Matthews

The ATO has lost its appeal of a tribunal decision in favour of Perth land developer Tina Bazzo, with the court rejecting its “all or nothing” approach to a key provision of the Taxation Administration Act.

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Pitcher Partners loses second bid to toss $127M Twigg family lawsuit
Professional Negligence 2023-08-23 3:40 pm By Cindy Cameronne

Pitcher Partners has lost its appeal of a decision that refused to stay a lawsuit over the accounting firm’s alleged involvement in race car driver Max Twigg’s misappropriation of $127 million from his family. 

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Pitcher Partners can’t toss claims in $127M fight with Twigg family
Accounting 2023-02-20 10:57 pm By Sam Matthews

Accounting firm Pitcher Partners has lost an application to dismiss a $127 million lawsuit by the family of race car driver Max Twigg as an abuse of process, with a judge rejecting its claim that the proceedings were deliberately delayed.

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Twigg family fights knockout bid by Pitcher Partners
Accounting 2022-12-16 4:38 pm By Sam Matthews

Relatives of race car driver Max Twigg are fighting Pitcher Partners’ bid to have a $127 million lawsuit dismissed as an abuse of process, rejecting the accounting firm’s argument that the proceedings were deliberately delayed for strategic reasons.

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‘Serious allegations’ against Pitcher Partners to be heard in NSW
Accounting 2022-08-05 10:02 pm By Cindy Cameronne

A judge has denied a bid by accounting firm Pitcher Partners to transfer a $127 million lawsuit brought by the Twigg family, saying he was best placed to hear “serious allegations” the firm helped race car driver Max Twigg give a false understanding of his company’s assets.

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High Court to hear ATO test case over trust income disclaimers
Tax 2021-04-20 3:16 pm By Miklos Bolza

The High Court has granted special leave in a test case by the Australian Taxation Office concerning the effectiveness of disclaimers by trust beneficiaries giving up entitlements to trust income and any associated tax obligations.

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Judge backs ASIC plan to ban OTC binary options as issuers hit with $75M penalty
Financial Services 2020-10-16 4:52 pm By Christine Caulfield

Over-the-counter derivative issuers AGM Markets, OT Markets and Oxifin Tech have been ordered to pay a total of $75 million in penalties after a ruling that they engaged in unconscionable conduct causing losses of over $30 million to unsophisticated investors seeking what a judge called “financial heroin hits”.

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ASIC wins unconscionable conduct case against OTC derivatives issuer AGM Markets
Financial Services 2020-02-27 10:28 pm By Cat Fredenburgh

ASIC has notched up a win against derivative issuer AGM Markets and two of its authorised representatives, with a court finding they engaged in misleading, deceptive and unconscionable conduct that caused investor losses of over $30 million.

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