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Colonial must give class action info on financial position after ‘unsatisfactory’ liability transfer
Financial Services 2021-10-05 2:11 pm By Cindy Cameronne

A judge has told a Colonial First State Investments unit to provide information about its financial position to the lead applicant in a class action and criticised the company for failing to disclose that it had transferred its liabilities after the class action was launched.

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Public good overrides individual rights in COVID-19 pandemic, NSW tells court
Trials 2021-10-05 9:30 pm By Bianca Hrovat

The New South Wales government has accused anti-vaccination advocates of having a “misguided” and “one-dimensional focus” on the fundamental rights of the individual over those of a community contending with the highly-contagious Delta variant of COVID-19. 

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Raptis Group hit with freezing order after allegedly dodging $110M in tax bills
Tax 2021-10-05 6:35 pm By Cindy Cameronne

The Australian Taxation Office has won an urgent bid to freeze the assets of James Raptis and 11 associated entities, after accusing the Queensland property developer of dodging $109.5 million in taxes since 2000.

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AMP may try to stay financial planner’s lawsuit in light of BOLR class action
Financial Services 2021-10-05 1:21 pm By Miklos Bolza

AMP has flagged a potential stay of a lawsuit filed by a Sydney-based financial planner against that overlaps with a class action brought by advisors alleging they suffered financial losses from changes in the company’s buyer of last resort policy.

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Westpac wants contempt conviction against Forum’s Bill Papas but can’t find him
White Collar 2021-10-01 6:27 pm By Miklos Bolza

Westpac wants Forum Finance founder Bill Papas held in contempt of court, but the bank has hit a snag in serving its motion on the missing Papas, saying he dropped his lawyers without telling them the address of his current residence in Greece.

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Judge lashes TWU, Qantas for public comments in outsourcing dispute
Employment 2021-10-01 5:13 pm By Miklos Bolza

A judge has criticised Qantas and the Transport Workers’ Union for their “not particularly helpful” public comments about whether or not ground staff will be reinstated upon resolution of their long-running outsourcing dispute.

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Judge grapples with his ‘white male privilege’ in Erin Molan trial
Trials 2021-09-30 8:57 pm By Cindy Cameronne

A judge has spoken of his personal challenge as an “older, white male” in deciding the objective meaning of racism in Nine Network sports reporter Erin Molan’s defamation case, and said the matter would have been worthy of a trial by jury.

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Managed investment scheme rules stall $78M class action against NAB, Walton
Class Actions 2021-09-30 12:40 pm By Miklos Bolza

A $78 million class action against National Australia Bank and Walton Construction seeking compensation for sub-contractors after the company’s collapse has halted as lawyers scramble to comply with the managed investment scheme requirements for funded class actions implemented by the Morrison government.

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ASIC seeks ‘very substantial’ $12M penalty against Mayfair
Financial Services 2021-09-29 3:09 pm By Cindy Cameronne

The Australian Securities and Investments Commission says beleaguered investment group Mayfair 101 should pay a $12 million penalty after a judge found the company misled investors about its financial products.

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Mayfair 101’s James Mawhinney says lawyers OK’d alleged misleading conduct
Financial Services 2021-09-29 9:44 pm By Cindy Cameronne

The founder of embattled investment group Mayfair 101, James Mawhinney, has said he received legal advice approving the company’s advertising of financial products that a court has found misled investors.

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