A judge will not let proceedings brought by ASIC against four former Linchpin Capital directors drag on, slamming a “vague” excuse from one of the directors, who awaits word from his insurers on whether his defence costs will be covered, that London is still in a state of “total confusion” due to COVID-19.
IP Australia has rejected e-commerce giant Amazon’s patent application for a method of allocating resources in virtual computers, finding the patent’s claims were “nothing more than a scheme for scheduling work” and were not a manner of manufacture.
The Australian Competition and Consumer Commission has raised preliminary competition concerns about the proposed merger of insurance giants Aon and Willis Towers Watson to create the world’s largest insurance provider, following investigations in the US, Europe, Canada and New Zealand.
Forty-four charges have been outlined in a long-awaited indictment in a criminal cartel case over a $2.5 billion ANZ share placement, including 29 charges against top executives from ANZ, Deutsche Bank and Citigroup.
Two insurance brokers have dodged being dragged into class action proceedings against sandalwood producer Quintis to boost a settlement reached last year, as a fight over insurance owed to the company to cover the settlement continues.
Further attempts to settle a securities class action against last mile logistics software firm GetSwift would be like flogging a dead horse, a judge has heard as the matter works its way towards a final hearing.
Commonwealth Bank of Australia could be on the hook for a large penalty after the court found the bank engaged in misleading and deceptive conduct and violated its financial services obligations on more than 12,000 occasions by overcharging customers more than $2.2 million in interest.
GetSwift has been criticised for its “quite unfair attack” on a Federal Court judge who refused to disqualify himself from hearing a shareholder class action against the logistics software company after presiding over ASIC’s civil penalty proceeding against the company.
The Australian Securities and Investments Commission presented its misleading and deceptive conduct case against companies in the Mayfair Group in an undefended trial on Monday, while the beleaguered investment group’s director watched the online proceedings as a muted observer.
US consumer goods giant Kimberly-Clark has agreed to pay $200,000 for misleading ‘Made in Australia’ representations made on its ‘flushable’ wipes.