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A class action brought on behalf of sovereign bond investors over the disclosure of climate change risks has settled with the government on terms that don’t preclude further proceedings, a court has heard.
A judge overseeing the Australian Competition and Consumer Commission’s case alleging auto mechanic Ultra Tune failed to comply with court orders has labelled its managing director Sean Buckley as “one of the more dreadful witnesses” he had seen.
Dairy processor Lactalis Australia has been hit with a $950,000 penalty in the first proceedings against a company for breaches of the Dairy Code.
SkyCity may be the first company to test the strength of AUSTRAC's claims in court, according to a judge who recently said in a separate case that the regulator's habit of agreeing to penalties could give rise to a "moral hazard".
A judge has approved a $450 million penalty put forward by Crown Resorts and AUSTRAC despite reservations about evidence going to the casino operator’s financial position.
The judge asked to approve a proposed $450 million penalty in AUSTRAC’s case against Crown Resorts has questioned whether the practice of regulators settling enforcement action ahead of trial gave rise to a "moral hazard” problem.
A proposed interest-free payment plan for a $450 million penalty agreed to between Crown Resorts and AUSTRAC has been questioned by a judge, who said it would have “the Commonwealth of Australia act as the Crown’s banker” for two years.
Despite assurances, wealth manager Insignia Financial did not engage PricewaterhouseCoopers to review the performance of its 'Buy Model" investment portfolio after an equities analyst complained it had been overstated, a court overseeing a shareholder class action trial has been told.
A private investment fund has won its claim as a secured creditor over $2 million in research and development tax refunds that a court previously found should go to employees in a fight over funds remaining following the collapse of fintech Spitfire Corporation.
Crown Resorts has reached agreement with AUSTRAC to pay a $450 million penalty for the casino operator's serious breaches of the anti-money laundering and counter-terrorism financing laws.