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Coles’ $40M tax claim on evaporated fuel ‘artificial’, judge rules
Tax 2019-09-26 8:50 pm By Amelia Birnie

Supermarket giant Coles has lost an appeal over $40 million in tax credits it had claimed for fuel that evaporated or leaked from tanks at its service stations, after a judge described the supermarket giant’s argument as “artificial”.

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ACCC flags concerns about Resource Management Service timber sale
Competition & Consumer Protection 2019-09-26 8:33 pm By Miklos Bolza

The Australian Competition and Consumer Committee has flagged preliminary competition concerns and called for public submissions on a proposed sale by US-based timberland investment manager Resource Management Service of its Tasmanian assets.

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Sparke Helmore off the hook as court slams IOOF unit with $81M judgment over plantation sale
Restructuring & Insolvency 2019-09-26 2:50 pm By Miklos Bolza

IOOF subsidiary Australian Executor Trustees has been hit with an $80.6 million judgment after breaching its duty as trustee in the sale of a 42,000 hectare timber plantation by collapsed forestry giant Gunns Group, and it can’t pass the liability on to Spark Helmore, despite the law firm’s inadequate advice.

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Landowners lose appeal over $56.5M payout for Westconnex project
Transportation & Infrastructure 2019-09-26 2:31 pm By Christine Caulfield

A group of Sydney commercial landlords whose properties were compulsorily acquired for the WestConnex project have lost an appeal seeking $56.5 million in compensation, after the Valuer-General offered them just over half that amount.

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Yes whey: ACCC signs off on Saputo-Lion dairy acquisition
Competition & Consumer Protection 2019-09-26 12:30 pm By Amelia Birnie

The competition watchdog has given Canadian dairy producer Saputo the green light to acquire Australian competitor Lion Dairy’s cheese processing plants, but has warned any further consolidation in the Tasmanian dairy sector would cause significant concern.

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Ex-Macquarie advisers want to broaden $2.6M unpaid wages case
Financial Services 2019-09-25 4:09 pm By Miklos Bolza

Fifteen former Macquarie Bank financial advisers are looking to expand their $2.6 million wages case against the bank, seeking evidence around allegedly unreasonable and unlawful deductions from their commissions.

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‘We have a right to a fair trial’: ANZ criminal cartel defendant slams CDPP’s lack of detail
Competition & Consumer Protection 2019-09-25 3:38 pm By Amelia Birnie

Lawyers for former Citigroup executive Stephen Roberts have complained that prosecutors have failed to provide a “shred of material” to explain his alleged involvement in a criminal cartel relating to ANZ’s $2.5 billion capital raising, as the defendants fight to grill Crown witnesses before trial.

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Dyno Nobel, Orica settle case over rock blasting method patent
Intellectual Property 2019-09-25 2:58 pm By Christine Caulfield

Explosives maker Dyno Nobel has reached a mid-trial settlement in its case against its major rival, Orica, over a patent for a method for blasting rock at open cut mines.

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Sunglass Hut underpaid hundreds of part-time workers $2.3M
Employment 2019-09-24 10:17 pm By Christine Caulfield

Retail chain Sunglass Hut has agreed to backpay 620 workers almost $2.3 million after admitting it underpaid its part-time staff in stores across Australia for six years.

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Octaviar liquidators get court OK to reject proofs of $900M in debt by subsidiaries
Restructuring & Insolvency 2019-09-24 9:18 pm By Christine Caulfield

The liquidators of failed Gold Coast investment group Octaviar have been given the thumbs up to reject over $900 million in proofs of debt from two of the firm’s subsidiaries after the Queensland Supreme Court ruled they had received competent legal advice on the matter and were justified in the rejections.

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