Trials

Kicking off its case against former Noumi CEO Rory Macleod, ASIC has told the court that Macleod was clearly aware of the "dramatic" difference between actual available stock and what was reported to the market in 2019 and 2020.

Mail order company Magnamail has denied allegations by the Australian Competition and Consumer Commission that it sent false or misleading promotional material implying customers were eligible for major prizes if they ordered from its catalogues. 

A judge has questioned why unsecured creditors will not give a promise to pay damages as they seek to stop a DOCA for the Milligan-owned developer of the $1.8 billion Halo Tower from going ahead, which could allegedly cause $100 million in losses. 

The trial judge in enforcement action against Mastercard had harsh words Thursday about the company's witnesses, including a top executive whose testimony he said was "most unsatisfactory and unimpressive".

Mastercard argued Wednesday it relied on legal advice in drafting alleged anti-competitive deals with major retailers, as the judge questioned the reliability of some witnesses for the payments giant, who recalled "virtually nothing".

Insurers fighting a case by Webuild and NRW's seeking coverage from damages caused by a sinkhole during the construction of Perth's $1.8 Billion Forrestfield-Airport Link have pointed to emails from WeBuild staff and contractors which they say prove their claims of fraud.

Trial has kicked off in a case by builders Webuild and NRW against their insurers over coverage for damage caused by a sinkhole during the construction of Perth's $1.8 billion Forrestfield-Airport Link.

An ASX statement from budget airline Rex that was optimistic about its 2023 profit prospects should have been corrected by April, ASIC has told a judge, disputing claims that the statement was not a forecast but merely an expression of what the board hoped for. 

McDonald’s knew that employees across its stores were not being given continuous 10-minute rest breaks and that its time-keeping systems were deficient, a judge heard on the first day of trial in an underpayments class action that could include 370,000 workers.

ASIC has wrapped up its case against regional airline Rex without evidence from its former executive chairman, who reversed course this week and admitted he misled investors and breached his directors duties.