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The parties in two shareholder class actions brought against online fashion retailer Surfstitch will make one “last, final attempt” to resolve the proceedings in mediation after a proposed settlement was thwarted by a judge last year, a court heard Friday.
The plaintiffs in three competing RCR Tomlinson shareholder class actions have been told to “get their act together” by the judge who forcibly consolidated their proceedings, after the parties revealed they were as yet unable to agree on joint funding terms.
Indonesian airline Garuda has failed in its bid to stay a $19 million penalty for its role in a fuel surcharge cartel after telling the Federal Court it has debts of $480 million, with a judge saying he would be allowing the company to trade while insolvent if he granted the stay.
A judge has promised the parties in the Sydney Opal Tower class action that the matter will be “resolved expeditiously”, despite the plaintiff’s concerns that cross-claims by the defendant and procedural timeframes will cause delays.
Australian logistics company Linfox has taken its $45 million fuel tax credit challenge to the Full Federal Court, arguing its trucks are being over-taxed on major toll roads across the country.
The NSW Independent Liquor & Gaming Authority will hold a public inquiry with the powers of a royal commission to examine James Packer's proposed sale of Crown Resorts shares to gaming mogul Lawrence Ho's Melco Resorts & Entertainment.
The competition regulator has raised concerns about Bis Industries’ proposed acquisition of Cougar Mining Group, saying the threat of new competitors appeared unlikely to significantly constrain the combined company.
Westpac and two of its subsidiaries have been hit with a $1.5 million penalty by the Australian Prudential Regulation Authority for failing to meet their reporting obligations.
The Australian Competition and Consumer Commission has raised concerns about a proposed acquisition by Canadian dairy producer Saputo of competitor Lion Dairy's cheese processing plants, saying the deal could substantially lessen competition in Tasmania.
Construction giant Lendlease has filed its defence in one of two shareholder class actions filed against it, saying any losses investors allegedly suffered were wholly or partly due to their own failure to take reasonable care.