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Christian Porter wants court to ‘protect his reputation’, Nine tells judge
Defamation 2021-08-18 4:21 pm By Cindy Cameronne

Liberal MP Christian Porter is effectively asking the court to “protect his reputation” by seeking to block Nine and NewsCorp from using secret portions of the ABC’s defence to his defamation allegations, Nine told a judge in opposing the move.

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AMP loses bid to access docs in employee poaching dispute
Employment 2021-08-18 9:42 pm By Cindy Cameronne

AMP has lost its bid to access documents showing software company DST Bluedoor’s revenue forecasts and employee remuneration in a $35.5 million legal stoush alleging the financial services firm induced 11 employees to jump ship after licensing its online advisor platform.

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Hancock Prospecting avoids $3M discovery hit
Energy & Natural Resources 2021-08-18 4:21 pm By Miklos Bolza

Gina Rinehart’s Hancock Prospecting has avoided a discovery order that would cost an estimated $3 million to comply with, with a judge instead ordering that limited discovery be given to two Rinehart children in an ongoing family dispute over titles for the Hope Down iron ore mine.

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Appeal dismissed in dispute over $81.8M Parklea Markets sale
Appeals 2021-08-18 9:33 pm By Miklos Bolza

Sydney retail personality Con Constantine has lost an appeal seeking to bolster a $4.25 million judgment in his favour over the $81.8 million Parklea Markets sale in 2016.

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Halifax auditors fined $50,000 for criminal breaches
Accounting 2021-08-18 5:48 pm By Cat Fredenburgh

The former auditors of stockbroker Halifax Investment Services, whose 2008 collapse left around $200 million in client funds trapped, have been hit with $50,000 in fines for auditing breaches that resulted in the company continuing to trade while being prima facie insolvent.

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IOUPay granted relief for compliance bungle on 20 million share issuance
Financial Services 2021-08-18 4:59 pm By Bianca Hrovat

Fintech software solutions company IOUPay has been granted relief from the court after issuing 20 million shares without lodging a cleansing notice with the Australian Securities Exchange.

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Menswear label yd. accused of ‘obvious’ infringement by rival brand Politix
Intellectual Property 2021-08-18 4:38 pm By Bianca Hrovat

Australian menswear label yd. has been sued for “blatant and obvious” copyright infringement for allegedly using a floral pattern produced by rival brand Politix on its shirts.

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Former Citigroup boss escapes ANZ cartel case as prosecutors slash charges
Competition & Consumer Protection 2021-08-17 11:33 pm By Christine Caulfield

Prosecutors have withdrawn two-thirds of the charges in a criminal cartel case over a $2.5 billion ANZ share placement and have dropped their case against former Citigroup CEO Stephen Roberts, according to a lawyer in the case.

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PwC to face misleading conduct claim over advice to Chinese lender
Financial Services 2021-08-17 11:46 pm By Cat Fredenburgh

A judge has found PwC should face a claim that it engaged in misleading and deceptive conduct while assisting Chinese lender Aoyin with its planned launch in Australia by failing to properly advise the company there was a risk its shareholders did not comply with APRA’s ‘fit and proper’ requirement.

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Banks lose cases against directors over $2.8B collapse of steel giant Arrium
Restructuring & Insolvency 2021-08-17 12:15 pm By Christine Caulfield

A judge has dismissed two cases brought by the Commonwealth Bank, Westpac and other lenders against directors of the failed steel giant Arrium, saying he was not satisfied the directors’ representations on loan drawdown notices were false or that the company was insolvent when it went into voluntary administration in April 2016.

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