Michael Gvozdenovic

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.

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.

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.

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".

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".

Heads may roll after a court on Friday rejected the evidence of key Dexus employees at trial over a breach of APAC's shareholder deed, in a ruling that revealed some insiders suspected the "embarassing blunder" would come back to bite.

Dexus has lost its case over the validity of a default notice issued by Melbourne Aiport's operator, with a judge saying the real estate asset manager breached the company's confidentiality and "irrevocably undermined" its relationship with fellow shareholders.

Former NAB super fund trustee NULIS Nominees was able to charge $165 million in fees for paying adviser commissions after conflicted remuneration was banned in 2016, an appeals court has ruled. 

Danish glassware brand Bodum has lost its intellectual propety suit against Maxwell & Williams, despite a court finding the homewares company's coffee glasses were a “conscious imitation” of Bodum's products. 

Trial in a case alleging Mastercard misused its market power by striking deals with retailers to defend revenues against EFTPOS routing has heard external competition lawyers suggested removing the word 'routing' from its contract with Woolworths.