Restructuring & Insolvency
Liquidators lose $27M case against FC Capital unit over Big Un
The liquidators of a subsidiary of collapsed media company Big Un have lost their case against financier First Class Capital alleging a three million share purchase was part of a scheme to inflate the company's stock price.
Securities
Third firm probing class action against Corporate Travel Management, PwC
A third law firm is circling Corporate Travel Management and PricewaterhouseCoopers over a share price dive earlier this month.
Class Actions
RAMS to pay $29.6M in class action settlement
Westpac's former home lending business RAMS will pay $29.6 million to resolve a class action over the termination of agreements with franchisees.
Insurance
Crown sues insurer for coverage of $72.5M class action settlement
Crown Resorts has taken its excess insurer to court after being denied coverage for part of a $72.5 million shareholder class action settlement not covered by its primary insurer.
Tax
Optimus sues Grant Thornton over ‘negligent’ restructuring advice
Japan-based Optimus has sued Grant Thornton for allegedly giving negligent restructuring advice following its acquisition of dealership group Autopact, which resulted in the company owing $3 million in stamp duty, income tax and other costs.
Employment
Humm faces lawsuit by former CEO
Non-bank lender Humm Group has been hit with Fair Work proceedings by its former CEO Stuart Grimshaw.
Policy and Regulation
US government slams Australia’s digital duty of care bill
Warning against censorship, the US government has taken the extraordinary step of weighing in on Australia's Digital Duty of Care bill, which would require social media platforms to block harmful content and allow an algorithm opt-out.
Financial Services
ASIC hits Remara with stop orders as wider private credit crackdown looms
Private credit lender Remara has been hit with stop orders by ASIC over target market deficiencies, as the regulator warned of an imminent crackdown in the market.
Business of Law
Law firm administration used to gain advantage over former partner: judge
A judge has found that a Canberra lawyer breached his fiduciary duties and engaged in oppressive conduct towards his former romantic and firm partner after she sought a $500,000 refund of shares in Aulich Civil Law.
Telecommunications
Triple Zero should be taken out of Telstra’s hands, report says
A Senate inquiry into Triple Zero service outages has recommended stripping Telstra of its emergency call person function and launching a review into the Australian Communications and Media Authority.
