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Arrium shareholders in class action can’t access full KPMG audit file
Class Actions 2022-02-04 1:59 pm By Cat Fredenburgh

Shareholders in a class action against failed steel giant Arrium and KPMG have lost their bid for KPMG’s complete audit file for Arrium to probe the Big Four accounting firm’s handling of the steel producer’s financial statements before its collapse in April 2016.

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Meta, Instagram lose appeal bid to arbitrate startup’s competition case
Competition & Consumer Protection 2022-02-04 1:58 pm By Christine Caulfield

An appeals court has dismissed a second attempt by Meta and Instagram to shut down a misuse of market power case by a Melbourne-based social media startup.

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Forum director Tesoriero questions sale of Papas’ Sydney residence
Restructuring & Insolvency 2022-02-04 12:34 pm By Cat Fredenburgh

Forum Finance director Vince Tesoriero has raised concerns about the validity of the sale of a $4 million home in Sydney inner-West suburb Rozelle where company founder Bill Papas and his girlfriend lived, but a judge has indicated any attempt to block the sale would be “hopeless”.

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RMS Engineering settles workers’ class action over meal breaks
Class Actions 2022-02-04 3:10 pm By Christine Caulfield

Queensland-based RMS Engineering and Construction has settled a class action alleging it refused to give staff meal breaks and threatened those who complained about excessive hours.

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Nine can argue MP Andrew Laming a ‘creep’ in defamation defence
Defamation 2022-02-04 10:38 am By Cat Fredenburgh

A judge has allowed Nine Network to claim that MP Andrew Laming is a ‘creep’ in its contextual truth defence to the Queensland politician’s defamation lawsuit over a news segment that accused him of taking a lewd photograph.

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Gilbert + Tobin nabs climate change ace from Baker McKenzie
Climate change 2022-02-03 10:47 pm By Cat Fredenburgh

A leading climate change lawyer at Baker McKenzie has made the jump to Gilbert + Tobin, less than a year after the US firm’s renewable energy practice lost its global co-head and two partners to another Big Six firm.

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IOOF unit fined $6M for financial adviser’s bad advice
Financial Services 2022-02-03 6:26 pm By Cat Fredenburgh

A judge has hit IOOF unit RI Advice with a $6 million penalty for failing to rein in an adviser who reaped hefty commissions for steering clients towards risky investments, despite earlier expressing concerns the penalty may not have enough sting.

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Money transfer business directors face jail in first criminal cartel sentencing of individuals
Competition & Consumer Protection 2022-02-03 1:47 pm By Christine Caulfield

The directors of two money transfer businesses will be the first individuals to be sentenced for criminal cartel offences after pleading guilty Thursday to charges over the fixing of foreign exchange rates.

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Andrew ‘Twiggy’ Forrest launches private criminal case against Facebook over crypto scam ads 
White Collar 2022-02-03 3:12 pm By Sam Matthews

Australian mining magnate Andrew ‘Twiggy’ Forrest has filed private criminal proceedings against Facebook over cryptocurrency investment scams that used his name and image.

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Combustible cladding class action in doubt as insurer Vero denies coverage
Class Actions 2022-02-02 11:36 am By Christine Caulfield

A class action against failed Fairview Architectural over alleged combustible cladding hangs in the balance as a court sets the stage for a fight with insurer Vero over a $190 million policy.

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