Crown Casino faces court action by the liquidators of iProsperity Group, seeking the return of $55 million in company funds they say were gambled away by its directors, two of which have since left Australia.
Crown has dropped its claims against builder Lendlease over the use of combustible cladding on the façade of the Metropol in Southbank but is continuing to pursue its case against the architect and others.
Crown has sued Lendlease and a host of other companies that signed off on the use of combustible cladding on the façade of the Metropol in Southbank, which it says resulted in two years of expensive rectification work.
A judge has ordered Crown Resorts to share the costs of soft class closure with the plaintiff in a shareholder class action accusing it of lax anti-money laundering compliance, saying that soft class closure ahead of mediation was in the interests of both parties.
Crown Resorts is seeking $10 million in security for costs from the law firm running a shareholder class action accusing it of lax anti-money laundering compliance, arguing the sum is justified in light of the firm’s potential recovery under a tiered group costs order.
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.
Casino operator Crown Resorts has agreed to backpay employees more than $1.2 million, after the company notified the Fair Work Ombudsman that it had underpaid workers at its Melbourne and Perth locations for almost six years.