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Companies can’t block ATO’s grilling of disgraced accountant Vanda Gould
Tax 2021-10-19 2:01 pm By Miklos Bolza

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.

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Judge slams notice of ‘very light’ GetSwift class action settlement
Class Actions 2021-10-18 3:58 pm By Miklos Bolza

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.

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ACCC seeks $90M penalty for Trivago’s ‘startlingly misleading’ hotel deals
Competition & Consumer Protection 2021-10-18 4:38 pm By Bianca Hrovat

The Australian Competition and Consumer Commission is seeking a $90 million penalty against Trivago for the ā€œstartlingly misleadingā€ ranking system used on its travel price comparison website.

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ASIC launches action against Insurance Australia over $60M in promised discounts
Insurance 2021-10-15 12:07 pm By Bianca Hrovat

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.

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ACCC’s approval of BPAY, Eftpos, New Payments Platform merger faces challenge
Competition & Consumer Protection 2021-10-15 9:16 pm By Miklos Bolza

A challenge to the ACCC’s approval of the merger of major payment platforms BPAY, Eftpos and New Payments Platform Australia has been challenged by a Sydney-based fintech, which has accused NPPA of patent infringement.

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Companies ‘contemptuous’ of merger review rules, ACCC chair says
Competition & Consumer Protection 2021-10-15 2:28 pm By Cindy Cameronne

ACCC chair Rod Sims has spoken out about the move by IVF provider Virtus to complete its planned acquisition of rival Adora before clearance from the watchdog, saying the situation showed the need for merger review reform.

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ACCC wins temporary halt to Virtus’ acquisition of Adora
Competition & Consumer Protection 2021-10-14 7:02 pm By Cat Fredenburgh

The ACCC has won an interim injunction blocking IVF provider Virtus Health from completing its purchase of rival Adora Fertility on Friday.

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Former CoCo Joy boss charged with running company while disqualified
White Collar 2021-10-14 1:15 pm By Bianca Hrovat

The former CEO of failed coconut water venture CoCo Joy, which once sponsored the Manly-Warringah Sea Eagles NRL team, faces charges he managed the company while disqualified due to bankruptcy.

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ACCC wants urgent injunction to block Virtus’ acquisition of Adora
Competition & Consumer Protection 2021-10-13 10:33 pm By Christine Caulfield

The competition regulator has filed court action seeking an injunction to stop Virtus Health from completing the purchase of rival Adora Fertility on Friday while a merger review is still in progress.

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CBA’s Colonial agrees to $20M penalty for misleading MySuper statements
Financial Services 2021-10-12 5:43 pm By Bianca Hrovat

The Commonwealth Bankā€™s wealth management unit has agreed to cough up $20 million in penalties for misleading thousands of fund members during the transition to MySuper accounts, but steadfastly maintains its conduct was not part of a ā€œnefariousā€ plot for profits.

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