James Arnott

A judge has ordered the former CEO and chief legal officer of Star to pay a combined $1.1 million in penalties for failing to act on "obvious" money laundering risks, but said the fines would have been higher had ASIC not struck a "generous" settlement with other directors.

Super fund trustee REST Nominees is the first of the Dexus bloc of APAC shareholders to challenge a finding that a default notice issued by the board of the airport operator was valid.

Kicking off its case against former Noumi CEO Rory Macleod, ASIC has told the court that Macleod was clearly aware of the "dramatic" difference between actual available stock and what was reported to the market in 2019 and 2020.

The forced divestiture of Dexus' stake in airport operator APAC will proceed, after a court on Friday discharged injunctions temporarily blocking the sale amid a dispute over the disclosure of confidential information.

A judge has found that online training provider RSA Express, which reaped $8 million from consumers who paid for courses they did not complete, made misleading representations that customers would only pay for courses after they passed. 

The trial judge in enforcement action against Mastercard had harsh words Thursday about the company's witnesses, including a top executive whose testimony he said was "most unsatisfactory and unimpressive".

Dexus has stood down executives, sacked its advisers and launched a review of its $7 billion infrastructure division, following last week's judgment upholding the validity of a default notice by Melbourne Airport's operator.

Mastercard argued Wednesday it relied on legal advice in drafting alleged anti-competitive deals with major retailers, as the judge questioned the reliability of some witnesses for the payments giant, who recalled "virtually nothing".

Star's former group general counsel has told a judge she should not have to pay a $1.1 million fine for breaching her directors duties because she has suffered “extra-curial detriment” that includes unemployment. 

ASIC is seeking a $1.3 million fine against Star’s former CEO Matthias Bekier and a $1.1 million fine against ex-general counsel Paula Martin for breaching their duties by failing to warn the casino operator's board about money laundering risks.