An appeals court has found that an unpaid present entitlement to a corporate beneficiary is not a loan under tax law, upending the ATO’s longstanding practice of treating UPEs as part of a trustee’s assessable income.
A judge has order the winding up of a construction company contracted to build a Queensland shopping centre after the builder failed to comply with a statutory demand.
US drug maker Allergan may defend a class action over recalled textured breast implants by arguing its knowledge of the alleged defects was limited by the state of scientific knowledge at the time the products were made.
A bid by Banksia Securities’ special purpose receiver to thwart planned proceedings by a group of debenture holders against lawyers for the class action funder has failed.
A judge has declined an early bid for broad discovery in a shareholder class action against tech firm WiseTech, after hearing it would require the production of “truckloads” of irrelevant material.
Australia’s largest brick manufacturer Brickworks has dropped a central claim in its competition lawsuit against a rival founded by billionaire Len Buckeridge.
A class action on behalf of people who purchased off-the-plan homes in the Clydesdale Estate in north-west Sydney has won a dispute with the liquidator for the collapsed developer.
A judge has dismissed lawsuits brought by three former Salter Brothers clients alleging they were misled about an investment fund marketed as part of a visa program to migrate to Australia.
John Gorton Developments has been ordered to pay $1 million into court amid a spat with Chase Construction, with a judge noting building policy objectives favoured a ‘pay now, fight later’ system.
Wine producer Accolade has won a dispute with Pernod Ricard over interim arrangements to distribute wine after it bought the French winemaker’s Australian and New Zealand businesses.