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‘We don’t know’ not a reason to block $4.9B Suncorp merger, ANZ says
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.
ASIC can’t seek penalties against M101 founder James Mawhinney
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.
High Court asked to revive Volkswagen airbags class action
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.
Judge in Qantas case questions why unions don’t file class actions
A judge has asked why the union representing Qantas workers did not bring a class action on behalf of 1,700 ground crew who were sacked during the COVID-19 pandemic, as he ordered the airline’s new CEO to attend settlement talks after losing its High Court appeal.
High Court to rule on reach of workplace law in high-stakes Qantas case
The High Court will deliver judgment Wednesday in an appeal by Qantas over its decision to sack its ground crew at the height of COVID-19, a ruling that could determine the scope of adverse action protections under the Fair Work Act.
ME Bank pleads guilty to misleading borrowers, says crime didn’t hurt anyone
Direct bank Members Equity has pleaded guilty to criminal charges over misleading representations to customers, but a judge has questioned the bank’s submissions in favour of a low penalty, noting it was only “happenstance” that a systems glitch didn’t lead to worse outcomes for customers.
ASIC seeks ‘re-run’ of trial against James Mawhinney, court told
ASIC wants to re-run its case against investment group M101 Nominees and founder James Mawhinney after admitting it made errors at its initial trial, arguing for new fines and disqualification orders on remittal by the Full Court, a judge has heard.
Ex-G8 Education chair suffers another loss in challenge to ASIC examination
Former G8 Education chair Jennifer Hutson has lost an appeal of a decision that found she was not unlawfully examined by the corporate regulator over the childcare company's $162 million hostile takeover bid for Affinity Education Group.
White collar penalties set to jump after High Court’s foreign bribery ruling
Companies could be on the hook for higher penalties for foreign bribery and other white collar offences after a High Court majority on Wednesday found a $1.35 million bribery penalty imposed on engineering firm Jacobs Group was inadequate.
Court throws out decision on nuclear waste facility location
A court has set aside former Federal Minister for Resources Keith Pitt's decision to develop a nuclear waste facility in Napandee in South Australia’s Eyre Peninsula, saying a fair-minded observer may have perceived that Pitt was biased in selecting the site over two other proposed locations.