In one of the year’s biggest class action settlements, PTTEP Australasia has agreed to pay $192.5 million to settle a representative action over a 2009 oil spill that affected 15,000 Indonesian seaweed farmers.
The High Court has dismissed an application by accounting giant KPMG to transfer a class action over the collapse of mining company Arrium from Victoria to NSW.
The High Court has turned down the appeal of the former Blue Star Helium CEO who was hit with a $40,000 penalty and four-year ban after the company failed to disclose to shareholders the identity of the buyer behind a botched sale of Texas oil assets.
A judge has refused to declare COVID-19 a force majeure event in a loss for Spanish infrastructure giant Acciona, which seeks to back out of a construction project for a $696 million Kwinana waste-to-energy plant.
A former Tesla Motors Australia director has pleaded guilty to two counts of insider trading for acquiring shares in Piedmont Lithium based on insider information he had about an in-principle agreement the mining company had to supply lithium to Tesla.
A judge has thrown out proceedings brought by mining magnate Clive Palmer in which he alleged an abuse of process by prosecutors and the Australian Securities and Investments Commission, finding that Palmer’s suits were themselves a “misuse of proceedings.”
Tlou Energy has paid $53,280 for allegedly making false or misleading statements to the market about its sustainability practices, in the Australian Securities and Investments Commission’s first compliance action over so-called greenwashing.
The ACCC has expressed concerns that Forestry Corporation of NSW’s proposed acquisition of Hume Forests could lead to price increases in regional areas by removing a significant competitor in the softwood market.
Insolvency practitioners are holding their breath as the High Court hears a case that could abolish a key rule used by liquidators in recouping payments to unsecured creditors at a time when the industry is bracing for a possible recession.
Mineral exploration company Kupang Resources has lost its battle for access to documents produced to the ATO by a former director accused of embezzling millions of dollars.