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NAB says ‘significant’ penalties loom over money laundering breaches
Financial Services November 15, 2019 3:58 pm By Miklos Bolza

The National Australia Bank faces the prospect of “significant monetary penalties” after self-reporting a potentially large number of money laundering and counter terrorism financing breaches […]

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Government approves Chinese co’s $1.5B acquisition of Bellamy’s baby food empire
Corporate November 15, 2019 12:11 pm By Miklos Bolza

The Federal Government has conditionally approved a $1.5 billion acquisition of all shares in baby food and milk formula manufacturer Bellamy’s Australia by a Hong Kong-based dairy firm after finding the transaction was “not contrary to the national interest”.

Google blasts ACCC’s ‘cherry-picked’ suit over data collection disclosures
Competition & Consumer Protection November 14, 2019 1:52 pm By Miklos Bolza

Google has slammed landmark regulatory action brought by the Australian Competition and Consumer Commission over the collection and use of location data on Android devices as “cherry-picked”, saying the watchdog had read alleged misstatements by the tech giant out of context.

$2.5M break fee in Pacific Energy takeover battle not anti-competitive, panel says
Corporate November 14, 2019 4:33 pm By Cat Fredenburgh

The Takeovers Panel has found that while a $2.5 million break fee included in a $470 million takeover offer lobbed during a bidding war for Western Australia power supplier Pacific Energy was not a “common market approach”, it was not anti-competitive or coercive.

Worrells backs partner targeted by ‘unexpected’ ASIC action
Restructuring & Insolvency November 14, 2019 10:25 pm By Christine Caulfield

Insolvency firm Worrells has come out in support of partner Jason Bettles, who is facing an investigation by the corporate regulator for his work as liquidator of the Members Alliance Group of companies, saying the probe was unexpected.

ASIC lashes out at criticism over new responsible lending guidelines
Financial Services November 14, 2019 11:25 pm By Christine Caulfield

The corporate regulator has shot back at “exaggerated and inaccurate criticisms” that its updated responsible lending guidelines were to blame for lack of access to credit.

Caterpillar bares claws over Fiat-Chrysler’s ‘hellcat’ mark
Intellectual Property November 14, 2019 9:40 pm By Miklos Bolza

Construction equipment manufacturer Caterpillar Inc has lost a challenge to the registration of two ‘Hellcat’ trade marks by FCA Group, producer of well-known auto brands Fiat, Chrysler, Dodge, Jeep and Alfa Romeo.

Key insight into claim on Warranty & Indemnity insurance
Expert Insights November 14, 2019 9:35 pm By Christine Caulfield

The Supreme Court of Victoria has considered whether an insured buyer under a warranty and indemnity policy is entitled to indemnity from an insurer when it relied on income and liability warranties in a share sale agreement and those warranties were breached, a case that provides welcome guidance on the contractual interpretation of W&I policies, writes Justin McDonnell and Rebecca LeBherz of King & Wood Mallesons.

Judge asks if he’s ‘in la-la land’ after seeing VW profitability figures
Competition & Consumer Protection November 13, 2019 3:14 pm By Hannah Gee

A judge has voiced his incredulity at profitability figures produced by Volkswagen in seeking court approval of a $75 million settlement with the consumer regulator […]

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Ex-Murray Goulburn execs say judge should not disqualify them again
Securities November 13, 2019 11:27 pm By Miklos Bolza

The former chief financial officer of Murray Goulburn has asked a judge to relieve him from any disqualification order sought by the corporate watchdog in […]

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