Financial Services
Judge OKs ‘very disappointing’ AMP class action settlement, cuts fees
A judge has approved a $120 million settlement in a class action against AMP that followed the banking royal commission, saying while it was a “very disappointing outcome” for group members it was still fair and reasonable.
Environment
Renex challenges EPA prosecution over investigator’s authority
Waste management company Renex has filed court proceedings seeking to overturn an environmental prosecution, alleging the EPA's investigator was not properly authorised to bring the case.
Class Actions
Blue Sky judge bemoans ‘vast amounts’ of unnecessary work in class actions
A judge has questioned the level of detail in a 1,700-page proposed amended pleading in a shareholder class action over the collapse of fund manager Blue Sky, expressing "frustration" at the amount of unnecessary work that goes on in class actions.
Employment
Richard White’s Kyckr claims ex-CTO sacked over performance issues
Richard White and his anti-money laundering software company Kyckr have hit back at an unfair dismissal case by the company's former chief technology officer, claiming she was terminated for “longstanding performance issues”.
Appeals
Star CEO, GC say judge got it wrong about obligations to board
Star’s former boss and chief legal officer have argued that a judge erred in finding they breached their directors’ duties by allegedly failing to inform the board of unacceptable money laundering risks in its Sydney casino.
Energy & Natural Resources
Southern Cross Gold says local group ‘impecunious by design’ to dodge security
A Southern Cross Gold unit has attacked a community group’s failure to put on evidence of its members' financial status to support claims that it can't meet the company’s $230,000 security demand in a dispute over a Victorian tunneling project.
Financial Services
KPMG partner dropped from Westpac audit, will leave firm
One of the KPMG partners who shared confidential client information has stepped away from the firm’s audit with Westpac and will leave the firm.
Competition & Consumer Protection
ACCC to take deeper look at Zoetis, Neogen merger
The Australian Competition and Consumer Commission has opened a phase 2 review into animal drug company Zoetis' proposed acquisition of Neogen's global animal genomic testing business, saying it would substantially lessen competition in the market for animal gene testing services.
Competition & Consumer Protection
Coles challenges ACCC’s block of supermarket site acquisition
Coles has asked a tribunal to clear its proposed acquisition of a leasehold interest in a supermarket and liquor store site in Kalgoorlie, arguing the ACCC's finding that it would substantially lessen competition was "not objectively correct".
Energy & Natural Resources
APA Group wins OK for $213M pipeline expansion to bolster Vic gas supply
Energy infrastructure company APA Group has won the Australian Energy Regulator's approval for a proposed $213 million expansion of Victoria's South West pipeline, which will help address projected peak-day gas shortfalls from 2029.
