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A KPMG partner who resigned in the wake of the firm's leaks scandal in May has defended his auditing of now defunct steelmaker Arrium, telling a court that inconsistencies were resolved through talks with management.
The former chairman of collapsed Arrium has denied that his purchase of 750,000 shares was aimed at showing confidence in the company, attributing his purchase to a personal policy.
A director of defunct Arrium has told a court he didn't believe it was necessary to revisit the steelmaker's iron ore price assumption before approving the company's 2014 accounts, even after the price fell significantly.
On his fourth day giving evidence in a shareholder class action trial, Arrium’s former CEO has denied that the company relied on overly optimistic assumptions when making forecasts about its business, despite a history of missed targets.
Collapsed steelmaker Arrium's former chief executive has testified during a shareholder class action trial that a five-year business plan projecting a 'V-shaped' turnaround was not an unrealistic pipe dream.
A massive dip in the price of iron ore in 2014 did not ring alarm bells for failed Arrium's then CEO, a court has heard, with the former boss denying that a capital raising that year was an urgent measure in the face of the potentially 'catastrophic' drop.
A judge has knocked back a class action’s bid to revise its claims against KPMG and former Arrium directors mid-trial, saying the amendments made for a "vastly different" case.
The ATO has lost its appeal of a ruling that put it on the hook for $35 million after a judge found it received millions misappropriated by a former Kupang Resources director in order to satisfy a tax debt against him.
There is a time for everything, as Ecclesiastes says, but who has time for class actions that plead everything and the kitchen sink, a vexed judge wants to know, calling on litigants to home in on the real contest in their cases.
A judge has ruled that building materials giant Boral breached its continuous disclosure obligations, in a win for a class action, but will wait on the High Court's ruling in cases against CBA before deciding whether shareholders have established damages.