A SkyCity shareholder has lost his bid to bring a case against former executives and directors at the ASX-listed casino seeking to recoup a $67 million penalty over breaches of money laundering regulations.
Westpac can shield reports prepared by Allens from a class action over money laundering compliance, with a judge finding they were produced predominantly in defence of AUSTRAC action that preceded the case.
The heirs of iron ore magnate Peter Wright have won a bid to haul their brother Julian to court to question him about the identity of the funder who backed his unsuccessful case against them in a dispute over their father’s estate.
Class action settlements leaped in value last year, with three settlements topping the $200 million mark.
A judge has overturned energy minister Chris Bowen’s refusal to greenlight energy company Seadragon’s offshore wind farm project off the coast of Gippsland.
Macquarie Bank has agreed to pay a $10 million fine in proceedings brought ASIC after the bank admitted that it failed to monitor third-party withdrawals, resulting in a financial adviser’s theft of $2.9 million.
Gina Rinehart’s Hancock Prospecting has lost its bid to avoid producing documents to Bianca Rinehart and John Hancock after a judge rejected arguments the Rinehart children were abusing the court’s processes in a long-running dispute over ownership of a valuable mining tenement.
Hancock Prospecting has lost a bid to shut down court cases brought by fellow mining giants Wright Prospecting and DFD Rhodes until the outcome of a family arbitration, after a judge found the company’s own forensic choices made the risk of inconsistent decisions inevitable.
ASIC has lost a case accusing the Commonwealth Bank of Australia of hitting customers with $55 million in unauthorised fees, with a judge finding that nearly 1 million customers charged the fees should have known that even banks “sometimes make mistakes”.
The High Court has ruled that the “direct and far-reaching ramifications” of a contract between the federal government and Tasmania’s two major airports justifies an order for declaratory relief sought by local councils about the obligation of the airports’ operators to pay rates.