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The Australian Institute of Company Directors is calling on the Federal Government to bar lawsuits over coronavirus-related disclosures, including class actions, but some lawyers warned the proposal would leave companies free to mislead and deceive shareholders.
Real estate agents advising tenants who may be unable to pay their rent to draw down their superannuation have raised the ire of the Australian Securities and Investments Commission, which warned they could be violating the Corporations Act.
With the legal industry looking for ways to "share the pain" among staff amid a potential slowdown in work due to the coronavirus, several top-tier firms told Lawyerly they had no immediate plans to slash salaries or reduce staff hours.
A judge has denied a bid by the applicant in a massive class action against ride-sharing giant Uber to amend the group definition to include successors and assignees of those with claims, saying the request was made too late and that it was not clear who exactly would be included in the new group.
The Kingdom of Spain is facing yet another Federal Court enforcement proceeding over its ill-fated renewable energy initiative, this time by a Luxembourg-based renewable investment firm seeking payment of a $75.1 million award granted by an international arbitration tribunal.
A judge has ordered that Joseph 'Diamond Joe' Gutnik's Merlin Diamonds be wound up after the mining company's provisional liquidators uncovered "serious contraventions" and a "serious failure of governance".
The Australian Competition and Consumer Commission has found Bunnings' $30 million takeover of Adelaide Tools and Oaklands Mower Centre would not substantially lessen competition, but warned it would closely scrutinise future moves that would further cement the hardware giant's dominant position.
The makers or popular opioid drugs like OxyContin and Fentanyl may face a class action in Australia by consumers who allege they suffered financial loss from the addictive drugs.
The developers behind the Governor Place residential complex in Canberra have reached a settlement in a class action by aparment owners seeking $6.3 million in GST payments on their units.
The Australian Competition and Consumer Commission will scale back its use of certain investigatory tools, such as compulsory examinations, amid the strain on Australian businesses from the spread of COVID-19.