Corporate
Ex-Star CEO, GC hit with combined $1.1M in penalties for money laundering failures
A judge has ordered the former CEO and chief legal officer of Star to pay a combined $1.1 million in penalties for failing to act on "obvious" money laundering risks, but said the fines would have been higher had ASIC not struck a "generous" settlement with other directors.
Tax
Deloitte, Pitcher Partners face negligence case by ex-Ubertas owner
A former owner of the Ubertas property development group is suing Deloitte Private and Pitcher Partners, alleging they gave her negligent advice that led to an audit and a $12 million tax bill.
Professional Negligence
CBA says Cornwalls should pay price of pointing finger in negligence suit
The Commonwealth Bank wants Cornwalls to pay its costs in a negligence case by a former client, saying the law firm should foot the bill for claiming proportionate liability against the bank.
Legal Ethics
Law Council defends legal privilege ahead of KPMG hearing
The Law Council says asserting legal professional privilege is not "inherently scandalous", ahead of a parliamentary hearing on KPMG's sharing ofclient information, at which law firms Allens and Ashurst are expected to stay mum.
Class Actions
AMP’s $100M deal in BOLR class action no bar to advisor’s case: court
A former financial advisor and his company have won court approval to run a claim challenging AMP's buyer of last resort policy, despite the company being a group member in a related class action that settled for $100 million in 2023.
KPMG
KPMG referred to NACC over whistleblower claims
KPMG has been referred to the national corruption watchdog, with Greens Senator Barbara Pocock calling the federal government's three-month pause on new contracts with the auditor a “slap on the wrist with a stick of limp celery”.
Greenwashing
ACCC takes Grill’d to court for alleged greenwashing
The consumer watchdog has taken fast food burger chain Grill’d to court for allegedly misleading consumers by overstating how much money would go towards planting trees as part of its Tree Day Tuesday promotion.
Class Actions
Cladding class action against 3A, Halifax appeals trial loss
A class action is challenging the Federal Court's post-trial ruling for Alucobond panel maker 3A Composites and supplier Halifax Vogel.
Intellectual Property
Novartis loses bid to remove Pharmacor’s ‘Valtresto’ trade mark
Swiss drug maker Novartis has lost its bid to have Pharmacor's Valtresto trade mark removed for non use, with an IP Australia delegate finding that an injunction in a fight over the patent for Novartis' heart drug Entresto was an obstacle to using the mark.
