The High Court will hand down its ruling Wednesday in a high-stakes case between ASIC and Westpac that is expected to clarify the line between personal and general financial advice.
ASIC chair James Shipton will step down from his role despite being cleared by an independent review into $118,000 in payments related to his relocation from the US in 2018.
While a Federal Court judge recently promised to advance a long-running criminal cartel case against several investment banks and individuals over a $2.5 billion ANZ share placement, a separate judge will soon hear a privilege dispute over documents from whistleblower JPMorgan that promises to further delay the case.
Fonterra has hit back at claims in a class action that the dairy giant misled farmers and breached its supply agreements when it slashed milk prices and sought a clawback in 2016, saying it warned farmers of the “extreme” volatility in the market.
Sydney businesswoman Melissa Caddick, who went missing a day after police raided her home two months ago as part of a fraud investigation, is believed to be alive, according to police.
Troubled food and beverage manufacturer Freedom Foods has denied a former company secretary and group general counsel was protected by whistleblower laws, claiming it was entitled to fire her for “serious misconduct”.
Last-mile logistics software company GetSwift has ceased trading on the ASX after its relocation to Canada got the greenlight by the Federal Court and FIRB despite the company facing ongoing litigation in Australia.
A judge has vacated a scheduled mediation in ASIC’s misleading and deceptive conduct case against three companies in the beleaguered Mayfair Group after they failed to procure legal representation despite assurances that lawyers would be engaged promptly.
Top-tier law firm MinterEllison provided ASIC with a legal opinion on whether it was appropriate for the regulator to cover the tax bill of chairman James Shipton, telling the regulator that it was “standard practice” for an employer to cover the reasonable cost of tax advice.
ASIC has spent $3.2 million so far pursuing billionaire mining magnate Clive Palmer in two criminal lawsuits alleging takeover contraventions and fraud.