An ASIC report into private credit has found that commercial property construction and development presents the “greatest potential risk” of impairment or credit loss, as well as being more likely to involve conflicts of interest and opaque fee arrangements.
ASIC’s chair was grilled by members of parliament on Thursday over whether the regulator would take action against individuals within ANZ, after the bank agreed to pay $240 million in penalties for “widespread misconduct”.
Developer Techin MBS has filed a lawsuit against Maddocks, claiming the law firm is liable for negligence if a contract of sale for a penthouse in Toorak with multi-millionaire Scott Shearman is not found to be binding.
Releasing guidelines for the use of generative artificial intelligence, the Queensland court system has this week cautioned judges against the use of AI tools for decision-making.
Intellectual property firm Wrays has lured a former special counsel at King & Wood Mallesons to join as the firm’s new head of trade marks.
Gaming giant Aristocrat has won its battle against a decision revoking four innovation patents covering its popular Lightning Links poker machine, in a major decision that clarifies the patentability of computer-implemented ideas.
The eSafety commissioner has said it will take a “principles-based approach” to the government’s plan to ban social media ban for children under 16, saying platforms will not be required to verify the ages of all users.
The applicant in a class action over a COVID-19 outbreak aboard the Ruby Princess is seeking an $8 million costs order against Carnival, after the cruise ship operator lost its challenge to a negligence finding.
ANZ has agreed to pay $240 million in penalties to resolve four separate cases by the corporate regulator, including a record $80 million penalty for unconscionable conduct in its dealings with the federal government.
The developer of the Berrybank wind farm must produce expert communications in a lawsuit over noise emissions from its turbines, but can shield documents pointing to any defects.