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IOOF unit’s case ‘utterly unsupportable’, Sparke Helmore tells court
Trials 2019-07-02 8:40 pm By Miklos Bolza

Sparke Helmore has refuted allegations by IOOF subsidiary Australian Executor Trustees (SA) that it failed to provide proper legal advice to the trustee on a 2012 pine plantation sale that left 4,500 investors without millions of dollars worth of assets.

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Troubled Melbourne property developer Steller goes into receivership
Restructuring & Insolvency 2019-07-02 8:07 pm By Miklos Bolza

Melbourne property developer Steller has been put into receivership, a dramatic collapse for a firm that once boasted a pipeline of $4.2 billion worth of projects.

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Global textiles giant Simba can peek at IFOTA’s books, judge says
Securities 2019-07-02 3:08 pm By Cat Fredenburgh

Clothing manufacturer IFOTA has been ordered to open its books to shareholder Simba after it raised concerns about IFOTA’s management and financial position.

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Novartis wants to amend invalidated patent for MS drug
Intellectual Property 2019-07-02 1:30 pm By Amelia Birnie

Novartis has applied to amend its proposed patent for an oral form of multiple sclerosis drug Gilenya, as it appeals an invalidity ruling by IP Australia for lack of inventive step.

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AMS doubles down on defence in vaginal mesh class action
Class Actions 2019-07-01 11:33 pm By Cat Fredenburgh

Medical device manufacturer American Medical Systems has reasserted that it cannot face claims under Australian consumer laws over its allegedly defective vaginal mesh products because it only supplied the products to a US subsidiary.

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Ariosa infringed Sequenom’s patent for prenatal genetic test, court finds
Intellectual Property 2019-07-01 10:07 pm By Cat Fredenburgh

A court has found Ariosa Diagnostics infringed a patent held by Sequenom for a noninvasive prenatal genetic test, and ruled one claim of the patent invalid for lack of fair basis.

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Mondelez overvalued Aussie biz in $460M sale to Bega, suit claims
Corporate 2019-07-01 9:43 pm By Cat Fredenburgh

Bega Cheese is accusing global food giant Mondelez of overstating the value of the Australian assets purchased for $460 million in July 2017 as part of a deal that’s also at the centre of an ongoing dispute with Kraft over peanut butter trade dress rights.

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‘Neglect, inexperience, incompetence’: IOOF unit faces $82M trial over plantation sale
Trials 2019-07-01 7:23 pm By Miklos Bolza

IOOF subsidiary Australian Executor Trustees (SA) is facing an $82 million claim for compensation by investors angered by the way the trustee handled the sale of a 42,000 hectare timber plantation run by collapsed forestry giant Gunns Group.

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Suncorp hit with class action over super fees
Class Actions 2019-07-01 12:39 pm By Cat Fredenburgh

A unit of Suncorp Group has been hit with a class action over superannuation fees and charges, the eighth banking royal commission-related class action filed thus far.

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Commercial interests shouldn’t bar consolidation, says Brambles class action judge
Class Actions 2019-06-28 11:57 pm By Cat Fredenburgh

A judge has released his reasons for consolidating two shareholder class actions against logistics company Brambles over opposition by the lead applicant in one of the competing cases, saying the interests of group members trumped those of the lawyers and funders in the case.

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