The NSW Independent Liquor & Gaming Authority will hold a public inquiry with the powers of a royal commission to examine James Packer’s proposed sale of Crown Resorts shares to gaming mogul Lawrence Ho’s Melco Resorts & Entertainment.
Westpac and two of its subsidiaries have been hit with a $1.5 million penalty by the Australian Prudential Regulation Authority for failing to meet their reporting obligations.
Construction giant Lendlease has filed its defence in one of two shareholder class actions filed against it, saying any losses investors allegedly suffered were wholly or partly due to their own failure to take reasonable care.
Mining magnate Clive Palmer says he feels “vindicated” after reaching a multimillion dollar settlement that resolves the majority of claims brought against him following the $200 million collapse of his company Queensland Nickel in 2016.
Investment firm London City Equities has secured court approval to bring an expanded case against accounting giant Ernst & Young over its auditing of collapsed soda ash maker Penrice.
The ABC and Fairfax have lost their appeal seeking to revive a truth defense in a defamation case brought by Chinese businessman Dr Chau Chak Wing over a Four Corners program accusing him of espionage and links to the Chinese Communist Party.
The applicants in the Radio Rentals class action have won access to the company’s excess layer insurance policies, amid concerns that group members’ losses from the allegedly misleading ‘Rent, Try, $1 Buy’ program could surpass $100 million.
The Australian Broadcasting Corporation, which is fighting the legality of a police raid on its Sydney headquarters, has urged the Federal Court to order the Australian Federal Police to hand over a document it produced as rationale for obtaining a search warrant.
Car giant Toyota is facing a class action seeking compensation on behalf of around 250,000 vehicle owners who allegedly suffered loss from faulty diesel filters in the automaker’s Hilux, Fortuner and Prado diesel model cars.
A judge has rejected a proposed common fund order in the settled KPMG class action, saying the funder’s commission was “arguably excessive” and could result in a “stratospheric” return to the firm.