James Arnott

The trustee for shareholders that want to retain their Dexus-managed stake in Australia Pacific Airports Corporation can't be separately represented from the selling group, a judge has ruled in a case that pits APAC's investors against each other.

Facing allegations that it misused its market power with major retailers, Mastercard is challenging a ruling for the ACCC that lays bare discussions about merchant agreements involving inhouse lawyers.

Mastercard has lost its claim for legal professional privilege over communications between its chief financial officer in Singapore and in-house counsel about merchant agreements the ACCC alleges were anti-competitive. 

A judge has found that Mastercard can maintain legal professional privilege over a document that was inadvertently sent to the ACCC in 2020 after lawyers at Baker McKenzie had to review 100,000 documents in less than two months.

A judge has signed off on a $59 million settlement in a class action accusing five banks of foreign exchange rate-rigging, while bemoaning the failure of successive attorneys-general to advance reforms clarifying the court’s power to make class closure orders.

Mastercard says legal professional privilege remained over a document after a junior lawyer "inadvertently" sent it to the ACCC in 2020 while the credit card giant was trying to dissuade the regulator from continuing an investigation into alleged anti-competitive conduct.

The liquidator of six companies linked to the nephew of former Nudie Juice founder Andrew Binetter has secured approval for a settlement in a case over the fallout of a massive tax evasion scheme.

Mastercard has pushed back on the ACCC's argument that it waived privilege over communications with lawyers, saying it would "take the law of waiver to a place it has never been before".

Real estate asset manager Dexus will cover the legal costs of shareholders whose stake in Australia Pacific Airports Corporation hangs in the balance, as it reveals a $55 million book value increase.

A judge has warned that an interlocutory privilege skirmish in the consumer watchdog’s misuse of market power case against Mastercard could “spiral out of control”.