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In fight with ex-Orix CEO, Chubb can argue Coca-Cola Amatil knew nothing of alleged bribes
Insurance 2023-03-22 9:56 pm By Cindy Cameronne

Facing a claim to cover the legal costs of former Orix CEO John Carter under a D&O policy, Chubb has been given the green light to argue that Coca-Cola Amatil’s board had no knowledge of alleged secret bribes.

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Downer EDI faces class action threat over accounting irregularities
Construction 2023-03-21 3:29 pm By Cat Fredenburgh

Downer EDI is facing a possible shareholder class action after the construction giant revealed accounting irregularities had caused it to overstate its revenue by as much as $40 million.

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On ‘third birthday’ of PwC class action, judge rails against slow progress
Class Actions 2023-03-21 8:33 pm By Cindy Cameronne

A judge has blasted the lack of progress in an investor class action against accounting firm PricewaterhouseCoopers and asset finance lender Axsesstoday over an allegedly misleading $50 million prospectus.

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Carnival class action over norovirus outbreaks faces strike out, declassing bids
Class Actions 2023-03-21 4:32 pm By Sam Matthews

A class action against Carnival over norovirus outbreaks on its Sun Princess cruise ship is facing a strike out bid, with the cruise operator also flagging a declassing application down the line.

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Former ANZ unit says ASIC should ask bank for info in fees for no service case
Financial Services 2023-03-21 8:20 pm By Cindy Cameronne

A judge has rejected arguments by superannuation trustee OnePath Custodians that the corporate regulator must look to former parent company ANZ for evidence in its fees for no service case.

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Merivale slams class action’s bid for second opt out notice to workers
Employment 2023-03-21 3:03 pm By Sam Matthews

Hospitality giant Merivale is contesting a bid by the applicant in a $129 million underpayments class action to issue a second opt out notice to employees, which it said was an attempt to ensure group members “take an interest” in the proceedings.

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Richard Crookes to appeal landmark judgment on SOPA’s availability to insolvent companies
Restructuring & Insolvency 2023-03-21 10:33 pm By Sam Matthews

Construction company Richard Crookes plans to appeal a ruling which found the Security of Payment Act is available to insolvent builders to pursue debts under a deed of company arrangement, despite an amendment to the law preventing construction companies in liquidation from enforcing payment claims.

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‘Enabled misconduct’: Lawyers, liquidators slam ASIC’s track record
ASIC 2023-03-20 2:16 pm By Cindy Cameronne

A law firm and several peak bodies for professionals in the corporate sphere have criticised the Australian Securities and Investments Commission’s enforcement track record, saying the regulator is inefficient and fails to properly address misconduct.

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Judge stays Victorian suit over alleged conspiracy to undermine HungryPanda’s EASI acquisition
Corporate 2023-03-20 2:57 pm By Sam Matthews

A judge has stayed an Australian lawsuit filed by food delivery service HungryPanda against competitor Fantuan over the acquisition delivery platform EASI until a related UK lawsuit is resolved, amid a fight for control of the local Asian food delivery market.

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High Court asked to revive pooling orders for businesses with common right to sue
Restructuring & Insolvency 2023-03-20 4:58 pm By Cindy Cameronne

A liquidator for two related NSW printing companies has launched a High Court challenge to overturn a judgment finding a joint right to sue another business for $330,000 could not be combined in a pooling order. 

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