Corporate

Investment firm London City Equities is seeking to have fellow publicly traded firm Excelsior wound up for alleged shareholder oppression over its decision to sell off a subsidiary for $101 million and not distribute the proceeds.

Jones Day is growing its domestic financial markets team with the recruitment of a partner from Baker McKenzie and the transfer of a 17-year veteran from the firm’s London office.

 Macquarie Bank has agreed to pay a $10 million fine in proceedings brought ASIC after the bank admitted that it failed to monitor third-party withdrawals, resulting in a financial adviser’s theft of $2.9 million.

K&L Gates continues to grow its corporate partnership, luring a private equity and M&A partner with international expertise from Johnson Winter Slattery.

The majority shareholders of vitamin giant Nature’s Care have been hit with the costs of the company’s failed bid for an injunction against its founding family, after a judge found the shareholders appear to have caused proceedings to be commenced as part of a strategy to “override the rights” of the family. 

ASX-listed gourmet food company Maggie Beer has been dragged to court by the founders of Hampers & Gifts Australia over a $10 million earnout that was part of a $40 million agreement to acquire the e-commerce company in 2021. 

A former director of Noumi has won his challenge to the food manufacturer’s claim for legal professional privilege over a PricewaterhouseCoopers report commissioned by its lawyers at Ashurst, with a judge finding the company waived privilege by disclosing it to Australian Securities and Investments Commission. 

Investment and advisory firm Pollination Group has poached a leading climate lawyer who led MinterEllison’s global climate practice group to bolster its offering of cutting edge advice on the transition to net zero.

Cross-border technology expert Lisa Fitzgerald has joined Norton Rose Fulbright from Lander & Rogers, bringing her expertise in media, telecommunications, privacy and intellectual property to the firm.

A judge has quashed a statutory demand by K&L Gates seeking $745,000 in fees from a former client, saying the law firm’s alleged debt included amounts owing its US counterpart, in currency converted to Australian dollars who knows when.