Accepting that criminal proceedings were “on the cards” for accused Ponzi schemer Chris Marco, a judge has ordered the appointment of receivers to his assets and those of his company, AMS Holdings, saying there was a strong need for an independent assessment of the investment activities of the WA businessman.
The Australian Federal Police has dropped its investigation of journalist Annika Smethurst over a series of News Corp articles that allegedly disclosed national security information, a decision applauded by the Law Council of Australia.
The Morrison government has launched a review of Australia’s patents system aimed at promoting innovation by smaller businesses.
Fuchs Lubricants is contesting a finding that it infringed patents owned by Quaker Chemicals in supplying hydraulic fluid to a BHP Billiton-owned mine.
In its latest move aimed at shielding companies from “opportunistic class actions”, the Morrison government has announced a temporary change to the continuous disclosure rules to give companies more wriggle room in updating shareholders during the coronavirus pandemic.
The settlement arrangement resolving five class actions against Volkswagen, which carved out hefty legal fees from the $120 million payout to drivers, could become more prevalent as the spotlight is once again trained on the cost of class actions. But the approach is not without controversy, experts say.
Norton Rose Fulbright has lost its second partner this month, with the defection of IP specialist Helen MacPherson to Baker McKenzie.
IP Australia has rejected a patent application by financial software firm Intuit, finding that its invention was not a manner of manufacture and contained “nothing of substance” from which patentable claims could be found.
Eight months after defeating a case brought by the prudential regulator alleging breaches of superannuation laws, wealth manager IOOF has escaped a class action without paying a cent to shareholders.
Logistics company GetSwift and its directors have failed in a bid for a year-long delay of a trial scheduled to start next month in ASIC’s case alleging breaches of the Corporations Act, despite arguing that the procedural unfairness of a remote hearing gave the regulator a leg-up over the US-based company.