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A former Mastercard business development director has admitted at trial to lying to the payments giant's finance department about the risk of 7-Eleven routing transactions to EFTPOS to seal a deal.
Vehicle leasing company FleetPartners has reached an agreement to resolve a shareholder class action for $27 million.
Construction PRO
An appeal by the buyers of a $2.3 million real estate business on the NSW Central Coast has fallen short, with a court finding that their solicitor's knowledge of a security charge was properly imputed to them.
A judge has approved amendments to a shareholder class action against iSignthis and auditor Grant Thornton, over the opposition of the fintech firm, which argued the changes would amount to an abuse of process.
Trial in a case alleging Mastercard misused its market power by striking deals with retailers to defend revenues against EFTPOS routing has heard external competition lawyers suggested removing the word 'routing' from its contract with Woolworths.
Construction PRO
Clayton Utz has recruited a projects partners from Allens to strengthen the firm's resources and infrastructure practice.
Mastercard risked losing half its revenue from retail interchange fees as a result of the Reserve Bank's least-cost routing initiative, and struck deals with top retailers to defend its core business, a court was told Wednesday.
A trial judge has heard that Mastercard's top Australian executives discussed stripping Woolworths of strategic merchant status if the supermarket giant routed customer transactions through the cheaper EFTPOS network.
Mastercard's Australia boss was anxious to sign a deal with Woolworths on payments processing after learning that Coles had chosen to route all debit transactions through the cheaper EFTPOS network, a court has heard.
Insolvency firm Cor Cordis has argued the "inordinate" task of producing WIP valuation documents in former chair Bruno Secatore's case should wait until the pleadings have been finalised and security determined.