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Judge criticises ASIC for treating orders in Westpac case like ‘traffic lights in Naples’
Financial Services 2021-12-20 1:48 pm By Bianca Hrovat

A judge has criticised the Australian Securities and Investments Commission for treating timetabling orders in its insider trading case against Westpac over a $16 billion interest rate swap as though they were “traffic lights in Naples”.

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Forum liquidators sue to wind up entity that got $2.6M in Bill Papas ‘loans’
Restructuring & Insolvency 2021-12-20 11:24 am By Miklos Bolza

Forum Group’s liquidators are seeking to wind up an entity owned by founder Bill Papas that received over $2.6 in “loans” from the alleged fraudster, as they work to recoup almost $400 million allegedly defrauded from three banks.

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SingTel loses transfer pricing dispute with ATO over $14.2B Optus acquisition
Tax 2021-12-20 10:13 pm By Miklos Bolza

Singapore telecommunications giant SingTel cannot claim over $894 million in tax deductible “transfer pricing benefits” for interest paid by a cross-border subsidiary on a loan for the $14.2 billion acquisition of Optus, the Federal Court has ruled.

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Full Court to hear Dutton defamation case over ‘rape apologist’ tweet
Appeals 2021-12-20 2:39 pm By Cat Fredenburgh

Refugee activist Shane Bazzi has appealed a defamation judgment ordering him to pay $35,000 in damages to Peter Dutton over a tweet which accused the defence minister of being a rape apologist.

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Court tosses GM’s ‘speculative’ bid to declass Holden dealer class action
Class Actions 2021-12-17 6:02 pm By Miklos Bolza

General Motors has lost its bid to de-class a representative proceeding brought by former Holden dealers over its decision to retire the iconic brand, with a judge rejecting the car maker’s “speculative” argument that it would be prejudiced by further lawsuits after the class action was finalised.

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IP holding company in dispute with Apple wins case over biosecurity patents
Intellectual Property 2021-12-17 3:30 pm By Cindy Cameronne

A patent holding company has won its legal dispute with a rival over biometric security patents the subject of an infringement case against Apple.

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TWU loses bid to reinstate 1,800 outsourced Qantas workers
Employment 2021-12-17 6:33 pm By Miklos Bolza

A judge has rejected the TWU’s request for the reinstatement of around 1,800 outsourced Qantas workers, finding it was inevitable that the airline would retrench the workers again as soon as lawfully possible.

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Under ACCC scrutiny, IVF provider Virtus drops $45M Adora acquisition
Corporate 2021-12-17 3:52 pm By Christine Caulfield

IVF company Virtus Health has withdrawn its offer to acquire rival Adora Fertility from Healius, citing the competition regulator’s opposition to the takeover.

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Ex-Antares Energy CEO banned for misleading market about $354M Texas oil sale
Securities 2021-12-17 6:20 pm By Miklos Bolza

The former CEO and chairman of Antares Energy has been banned from managing corporations for four years and hit with a $40,000 penalty for failing to disclose to the market the buyer behind an ill-fated US$254 million acquisition of Texas oil assets.

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Rex boss threatened cadets in letter urging ‘fierce loyalty’, appeals court says
Employment 2021-12-17 10:13 pm By Bianca Hrovat

Australia’s leading regional airline faces further litigation after an appeals court found it sent a threatening letter to prospective cadet pilots, urging them to stay in cheap, “inappropriate accommodation” in order to demonstrate their commitment to the company.

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