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An appeals court has unanimously rejected the Commissioner of Taxation’s latest bid to block Shell’s $2.3 billion tax deduction for the cost of exploration activities conducted as part of the Browse LNG project off the coast of Western Australia.
Oil company ExxonMobil has appealed decisions by the Australian Taxation Office to refuse deductions on profits from the sale of petrol from the largest oil field in Australia, claiming its taxable profits over four years should be reduced by $181.8 million.
Forum Finance director Bill Papas’ cousin has hit back at Westpac’s allegations he wrongfully received $720,000 from the alleged fraudster in violation of freezing orders made in the bank’s lawsuit, which seeks to recoup $294 million paid into an alleged fraudulent scheme.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion's share, with $672 million in settlements under its belt.
Ford has challenged its loss in a class action over its allegedly defective PowerShift transmissions, arguing group members who have had their cars repaired are not entitled to damages.
The lead applicant in a superannuation class action against two IOOF units has successfully appealed a decision that barred the case from proceeding under a carveout in Victoria's Supreme Court Act forbidding class actions involving trust property.
A judge has criticised the Australian Securities and Investments Commission for treating timetabling orders in its insider trading case against Westpac over a $16 billion interest rate swap as though they were “traffic lights in Naples”.
Forum Group's liquidators are seeking to wind up an entity owned by founder Bill Papas that received over $2.6 in "loans" from the alleged fraudster, as they work to recoup almost $400 million allegedly defrauded from three banks.
National Australia Bank and HSBC should be "jointly and severally liable" to pay a portion of the costs of a failed case brought by Dick Smith's receivers against the company's former directors because the banks stood to gain financially if the lawsuit was successful, the NSW Supreme Court has heard.
Oil exploration company PTTEP has appealed a judge's findings that oil that gushed from one of its wells in the Timor Sea in 2009 reached the coasts of Indonesian islands and damaged the crops of local seaweed farmers.