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Shareholders of the collapsed Babcock & Brown have failed in their challenge to a ruling tossing their cases for damages for disclosure breaches during the global financial crisis, with an appeals court finding the investors had not shown the breaches caused any loss.
The Full Court has thrown out a victory by Crown Resorts in a $100 million dispute over GST assessments on commissions and rebates paid to tour operators that directed international VIP gamblers to two of its casinos.
The lead applicant in a class action against CBA does not have the right to view fund management documents relevant to the case despite representing group members who share joint privilege with the bank over material, a judge has said, acknowledging the decision could create difficulties in class action proceedings.
Energy generator Stanwell has filed a lawsuit seeking to shut down the funding for a class action brought on behalf of 50,000 customers accusing it of gaming Queenland's energy pricing system, alleging funder LCM lacked the required licence to back the case and did not register the class action as a managed investment scheme.
The ATO is challenging a judge's decision to allow oil giant Shell Australia $2.2 billion in deductions for the cost of certain exploration activities conducted under an acquisition that increased its stake in Woodside Energy's Browse Basin gas exploration joint venture project.
Two executives of failed car washing franchise Geowash have failed in their attempt to overturn a $2.7 million penalty for overcharging and misleading franchisees, with the Full Court finding they had engaged in "a consistent pattern of conduct which was deceitful and dishonest".
Lex Greensill will need to pay tax on $58 million in capital gains, after losing a challenge to a tax assessment which included non-Australian gains from the sale of Greensill shares distributed to the founder of the collapsed collapsed UK-based supply-chain finance firm.
Engineering giant UGL will file proceedings against two unions seeking to block them from funding an underpayments class action on behalf of casual workers, with a judge noting the Full Court may need to weigh in on whether unions can fund class actions.
Freedom Foods' dispute with Blue Diamond Growers over an almond licensing deal will be heard by an arbitrator in California after an appeals court rejected the company's plea for an Australian judge to determine the case.
Fossil fuel giant Shell Australia has partially won a challenge to a tax office decision denying deductions claimed over an acquisition the increased the company's stake in Woodside Energy's Browse Basin gas exploration joint venture project.