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Embattled Sports Flick founder brings $12.7M case against former investors
Corporate 2021-10-25 2:34 pm By Christine Caulfield

The founder of troubled sports streaming start-up Sports Flick has filed a $12.7 million lawsuit against former investors seeking to be reinstated as director and shareholder of the company.

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Virtus ‘author of its own fate’ if Adora acquisition fails, judge says
Competition & Consumer Protection 2021-10-19 9:30 pm By Cindy Cameronne

IVF provider Virtus Health would be “the author of its own fate” if its proposed acquisition of rival Adora Fertility flopped, a judge has said in hearing the ACCC’s bid for a temporary injunction blocking completion of the planned purchase.

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Companies ‘contemptuous’ of merger review rules, ACCC chair says
Competition & Consumer Protection 2021-10-15 2:28 pm By Cindy Cameronne

ACCC chair Rod Sims has spoken out about the move by IVF provider Virtus to complete its planned acquisition of rival Adora before clearance from the watchdog, saying the situation showed the need for merger review reform.

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ACCC wants urgent injunction to block Virtus’ acquisition of Adora
Competition & Consumer Protection 2021-10-13 10:33 pm By Christine Caulfield

The competition regulator has filed court action seeking an injunction to stop Virtus Health from completing the purchase of rival Adora Fertility on Friday while a merger review is still in progress.

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ACCC officers face pre-trial grilling in ANZ cartel case as judge questions need for committal
Competition & Consumer Protection 2021-10-12 11:24 pm By Christine Caulfield

Five enforcement officers of the Australian Competition and Consumer Commission will be cross-examined by lawyers for banks facing price fixing charges over their conduct following ANZ’s $2.5 billion capital raising six years ago.

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ASIC takes superannuation trustee Diversa to court
Financial Services 2021-10-11 4:14 pm By Bianca Hrovat

The Australian Securities and Investments Commission has launched court proceedings against superannuation trustee Diversa for allegedly failing to take appropriate action in response to a financial advisor who was under investigation.

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Ex-Dick Smith CFO to appeal $43M victory for NAB
Restructuring & Insolvency 2021-10-07 6:25 pm By Miklos Bolza

Dick Smith’s former CFO will appeal a $43 million judgment in favour of National Australia Bank over his role in the retailer’s collapse.

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Firm investigating Blue Sky class action wants insurance info lest case is ‘waste of time’
Class Actions 2021-09-30 9:17 pm By Miklos Bolza

A law firm representing a property developer in an investigation of a potential class action against failed asset manager Blue Sky Alternative Investments is seeking access to the firm’s insurance documents to decide whether it is “worthwhile” to launch proceedings.

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Nuix scolded by judge for defaulting on orders in former CEO’s case
Corporate 2021-09-16 5:28 pm By Christine Caulfield

A judge overseeing a case brought by the former boss of Nuix has taken the embattled technology company to task for failing to comply with court orders that it file evidence by the end of last week.

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EY nears settlement in negligence case over Coca-Cola Amatil sale of SPC
Accounting 2021-09-16 12:27 pm By Bianca Hrovat

EY has reached an in-principle settlement in a case brought by Melbourne-based joint venture Shepparton Partners Collective alleging the consulting giant was negligent, but the firm copped a dressing down from a judge on Thursday for asking him to keep its motion to toss the case on ice.

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