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‘Serious neglect’: Disciplinary board cancels Halifax auditor’s registration
Financial Services 2021-09-16 3:59 pm By Bianca Hrovat

The former lead auditor of stockbroker Halifax Investment Services, whose 2018 collapse resulted in $200 million in investor losses, has had his registration cancelled following an application by the Australian Securities and Investments Commission.

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Car makers to pay $52M to settle Takata airbags class actions
Class Actions 2021-09-15 3:36 pm By Cat Fredenburgh

Six of the world’s largest car makers have agreed to pay $52 million to settle class actions accusing them of selling cars with deadly Takata airbags.

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Allianz loses bid for class action beauty parade
Class Actions 2021-09-15 1:33 pm By Miklos Bolza

A judge has signed off on a proposal by two law firms to jointly run a consolidated class action against Allianz over add-on car insurance, shooting down the insurer’s argument that a beauty contest would promote competitive contingency fee rates.

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Boral denies loss claims in shareholder class action
Class Actions 2021-09-15 2:53 pm By Miklos Bolza

Boral has denied that shareholders bringing two class actions against it over financial irregularities in its North America windows business suffered any loss, saying that its systems helped spot and prevent the financial manipulation from continuing.

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ME Bank could face $100M penalty in first of its kind criminal prosecution
Financial Services 2021-09-15 10:35 pm By Bianca Hrovat

Members Equity Bank faces a potential multi-million dollar fine if it is found guilty of misleading home loan customers in the first criminal prosecution under the consumer protection provision of the ASIC Act to be tried in the Federal Court.

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The Star accuses ATO of breaching settlement agreement
Tax 2021-09-15 10:25 pm By Cindy Cameronne

The Star Entertainment Group has filed court proceedings against the Australian Taxation Office seeking to have interest charges on a tax bill cancelled, saying the ATO acted “unfairly” by not adhering to the terms of a 2001 settlement agreement.

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Concrete company knew of prior Opal Tower failure, class action cross-claim alleges
Class Actions 2021-09-15 11:46 pm By Miklos Bolza

Prefab concrete company Evolution Precast Systems failed to install reinforced concrete in Sydney’s ill-fated Opal Tower and knew about a prior failure with one of the building’s panels, engineer WSP Structures alleges in a cross-claim lobbed in a class action on behalf of residents of the tower.

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NRL player Jack de Belin settles defamation suit with Daily Telegraph
Defamation 2021-09-15 12:18 pm By Cindy Cameronne

NRL player Jack de Belin has settled his defamation lawsuit against the publisher of The Daily Telegraph over an article, cartoon and tweet that allegedly implied he was a rapist and a “despicable person”.

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Mineralogy appeals ruling tossing suit as ‘ill-disguised’ attack on ASIC
Appeals 2021-09-15 4:00 pm By Cat Fredenburgh

Clive Palmer’s Mineralogy has appealed a ruling tossing a lawsuit it brought against ASIC, which a judge called an “ill-disguised collateral attack” on the regulator for criminal proceedings against the billionaire mining magnate over $12 million in payments made to his political party in 2013.

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Puma launches appeal against Caterpillar trade mark decision
Intellectual Property 2021-09-15 11:17 pm By Bianca Hrovat

Sportswear brand Puma has launched an appeal against a Federal Court decision that found it’s ‘Procat’ trade mark was deceptively similar to US machinery manufacturer Caterpillar’s CAT marks.

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