A judge has extended by a week a freezing order over the assets of ISignthis CEO John Karantzis in a dispute with the Australian Taxation Office over a $10.7M alleged tax debt, but a bid to extend the scope of the order to include shares in a Cyprus-based company launched by the fintech businessman has failed for now.
The Australian Taxation Office will have “commercial discussions” with Gold Coast property developer James Raptis before deciding whether to seek summary judgment in a case over $109.5 million in alleged tax avoidance.
Queensland crane company NQCranes has lost its bid to strike out the bulk of the ACCC’s amended case alleging it engaged in a conspiracy with a multinational rival to divide the Brisbane and Newcastle markets.
The Federal Court has slugged wealth management firm Colonial First State Investments with a $20 million penalty for misleading almost 13,000 superannuation members about their MySuper entitlements through a “concerted campaign” that lasted two years.
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.
The CEO and founder of Euro Pacific Bank, Peter Schiff, has launched a defamation lawsuit against the Nine Network over a 60 Minutes episode that allegedly implied he “facilitated the theft of millions of dollars from the Australian people” by assisting customers to commit offshore tax fraud.
Three companies operated by convicted accountant Vanda Gould have failed again to block further cross examination of Gould by the Commissioner of Taxation in a number of tax appeals in the Federal Court.
A judge has criticised a proposed settlement notice in a shareholder class action against GetSwift for failing to inform group members of how much they would receive from the “very light” settlement, which relies heavily on the logistics firm’s success after relocating out of Australia.
The Australian Competition and Consumer Commission is seeking a $90 million penalty against Trivago for the “startlingly misleading” ranking system used on its travel price comparison website.
The Australian Securities and Investments Commission has accused the largest general insurer in Australia of short-changing its customers a staggering $60 million in promised discounts, according to action launched in the Federal Court on Friday.