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Fuji Xerox, EY settle suit over $450M accounting scandal
Fuji Xerox and Ernst & Young have settled a lawsuit over $450 million in alleged accounting irregularities that also ensnared an EY partner and two senior Fuji executives.
NT Stolen Generation class action settles for $50M
A landmark class action on behalf of over 1,700 family members and deceased estates of the Northern Territory Stolen Generations has reached a $50.45 million settlement with the federal government.
Snap Fitness franchisee loses COVID-19 coverage appeal, but ‘conformity clause’ debate still live
An appeals court has dismissed a challenge brought by a Snap Fitness franchisee to a ruling that found insurer Lloyd’s could rely on a conformity clause in its policy to deny business interruption coverage to the NSW gym for losses related to COVID-19.
Moore Stephens ex-partner barred from bringing all but one claim against former colleague
A judge has barred a retired Moore Stephens partner from bringing all but a single claim against a former colleague who allegedly failed to account to the partnership for unauthorised profit in excess of $11 million.
Banksia receiver justified in rejecting lawyers’ $10.6M settlement, court says
The special purpose receiver acting for debenture holders of defunct Banksia Securities was right to reject a confidential settlement -- believed to be for $10.6 million -- offered by the disgraced lawyers behind a scandal-ridden class action, a court has found.
Sports presenter Erin Molan wins $150,000 defamation judgment against Daily Mail
Nine sports presenter Erin Molan has won a substantial payout from the Daily Mail over an article concerning an on-air remark she made about the pronunciation of National Rugby League Polynesian player names, despite failing to prove the story painted her as a racist.
Cornerstone liquidators can sign funding pact for $46M case against PwC
A judge has granted the liquidators of Cornerstone Investment Australia leave to sign a funding agreement for the insolvent tertiary education provider’s $56 million professional negligence claim against accounting firm PricewaterhouseCoopers.
J Hutchinson, CFMEU fined $1.35M for construction boycott
Builder J Hutchinson and the CFMEU have been fined a combined $1.35 million for entered into an anti-competitive agreement to boycott an independent subcontractor at a construction site in Brisbane.
Inpex can call on $467M bank guarantee in battle with Daewoo over delayed floating gas facility
A judge has ruled that oil company Inpex can call on a $467 million bank guarantee in its contract battle with Korean shipbuilder Daewoo over the contentious Ichthys LNG project off the coast of Western Australia.
Dick Smith directors owe $11.8M in damages after receivers win appeal
An appeals court has found that two former executives of collapsed electronics retailer Dick Smith should pay the company’s receivers $11.8 million in damages for approving a dividend payment the company could not afford.