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The ACCC’s rejection of a $4.9 billion merger between ANZ and Suncorp was hardly surprising given the concentrated nature of the home loans market, but the competition regulator faced an uphill battle in having the decision upheld, an expert says.
The ACCC’s decision to block a $4.9 billion merger between ANZ and Suncorp has been set aside, with a tribunal finding the transaction will not substantially lessen competition in the home loans market or for agribusiness and SME clients in Queensland.
The High Court has refused special leave in a failed class action against Volkswagen over allegedly defective Takata airbags.
A judge has reluctantly hit Westpac with a $1.8 million penalty after the bank admitted to unconscionable conduct when trading on the morning of a $16 billion deal to privatise electricity provider Ausgrid, saying it was the maximum fine allowed under the relevant law.
Bank of Queensland will pay a $820,000 penalty after its Members Equity was found guilty of criminal charges over misleading representations, with a judge finding the defunct direct bank was no less responsible because the offending conduct resulted from a systems error.
A judge has refused a bid by the ACT Police Chief to intervene on behalf of the AFP in Shane Drumgold SC legal challenge to the findings of an inquiry into the prosecution of Brittany Higgins' assault claims against Bruce Lehrmann, but has allowed six police officers to be joined to defend the findings.
A judge has admonished the Transport Workers Union for relying on test cases to decide compensation for 1,700 ground crew who were sacked during the COVID-19 pandemic, saying it should instead bring a class action.
ANZ has criticised the ACCC’s objection to its planned $4.9 billion merger with Suncorp, arguing before a tribunal that the alleged "uncertain" effects on competition in banking was not a sufficient reason to block the deal.
A judge has blocked ASIC from running a new case seeking penalties against investment group M101 Nominees and founder James Mawhinney on remittal from the Full Court, after the regulator admitted it made errors at its initial trial.
A failed class action against Volkswagen over Takata airbags is seeking special leave from the High Court, arguing an appeals court was wrong to find a reasonable consumer would be comfortable with an airbag that posed a potential risk of rupture.