Corporate

MinterEllison’s Perth office has welcomed a new energy and resources expert from Dentons, fleshing out the firm’s Western Australian capabilities. 

Global Payments’ plan to acquire Sydney software company School Bytes Learning may substantially lessen competition, the Australian Competition and Consumer Commission has said in outlining preliminary concerns with the deal.

Baker McKenzie has been dragged into a court case brought by a shareholder and creditor of failed energy company Armour Group, which alleges the law firm was knowingly involved in a plan by China-based Shunkang Group to take control of the company for cheap.

The Australian Competition and Consumer Commission has expressed concerns that France-based Louis Dreyfus’ proposed acquisition of ASX-traded cotton gin operator Namoi Cotton could substantially lessen competition and lead to higher prices for ginning services.

The Australian Securities and Investments Commission is investigating ANZ’s dealings in its role as risk manager of 10-year government treasury bonds worth $14 billion. 

Collapsed construction and maintenance company General Trade Industries has lost its bid to revive abandoned claims against AGL in a nearly four-year old contract case over work on two Queensland gas plants, with a judge finding the company has had “more than a sufficient opportunity to plead its case”.

IP services giant IPH Limited, which owns IP boutiques Spruson & Ferguson and Griffith Hack, has made an offer worth $265 million to acquire its rival QANTM Limited, after failing to woo its main competitor with a takeover bid in 2018.

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.