The applicant in a competition class action against AGL Energy has failed to find another funder to back the case after the original funder that bankrolled the case withdrew its support.
Online auction business Grays has agreed to pay a $10 million penalty for engaging in misleading and deceptive conduct by posting hundreds of descriptions of cars for sale on its website that contained incorrect information.
A judge has sentenced the former CEO of Bingo Industries to two years’ imprisonment to be served in the community and imposed $30 million in penalties against the waste company for a cartel arrangement with rival Aussie Skips, which copped fines of $3.5 million and an 18 month’ intensive corrections order for its boss.
A judge has ruled hearsay evidence given by Ashurst solicitors is sufficient for Racing Victoria to bring a claim for legal professional privilege over documents ordered to be produced to Racing NSW, which alleges it was the victim of an anti-competitive plot.
Chinese video camera company Bolin has won its bid for an urgent anti-anti-suit injunction against Australian competitor BirdDog, with a judge finding there was a risk of “irreparable prejudice” if Bolin lost its right to bring its claims.
A Melbourne pawnbroker is facing a class action over alleged “unjust transactions” involving loans that were given in exchange for customers’ sentimental items and with annual interest rates equivalent to 480 per cent.
Honda has admitted that it owes compensation to a Melbourne car dealer for a deliberate breach of contract following its decision to ditch a dealership model in Australia, but argues a $22 million damages claim by the dealer needs a “reality check”.
Beach Energy is fighting a bid to adjourn a fight about security for costs in a shareholder class action until the firm that’s running it has more favourable evidence of its debt financing position, saying the application is “doctrinally unprecedented.”
The ACCC’s rejection of a $4.9 billion merger between ANZ and Suncorp was hardly surprising given the concentrated nature of the home loans market, but the competition regulator faced an uphill battle in having the decision upheld, an expert says.
The ACCC’s decision to block a $4.9 billion merger between ANZ and Suncorp has been set aside, with a tribunal finding the transaction will not substantially lessen competition in the home loans market or for agribusiness and SME clients in Queensland.