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Credit Suisse has dropped its claim for indemnity against insurance agent BCC under a trade credit policy issued prior to Greensill Capital’s collapse in 2021, with a judge hearing the admission marks a "complete u-turn in the case".
ASIC has won its case alleging Regional Express failed to correct an optimistic forecast before it entered administration last year, but failed to prove the company's optimism conveyed a "likelihood" or that three non-executive directors had actual knowledge of the collapsed budget airline's declining business.
A bill introduced by the South Australian government that would retrospectively strip workers of the right to earn Sundary penalty rates has been slammed by a law firm bringing class actions against retail and fast food giants.
A judge will hear an application to amend by the applicants in two discrimination cases against University of Sydney academics accused of making allegedly antisemitic statements, saying the issues in the pleading had to be ruled on.
The latest new suits feature billion-dollar infrastructure brawls, fresh employment claims against Telstra and Woolworths, and regulators flexing their enforcement muscle.
Australian firms will continue to join forces with firms in the United States in a bid for higher partner profits and in response to client demand for a one-firm, multi-location service, an expert has predicted.
Construction PRO
A former director of Melbourne-based Aviation 3030 has failed to overturn a finding that the liquidators of the landbanking company could recover half of a $3.4 million landholder duty liability from him.
A shareholder class action has won access to reports by FTI Consulting and KPMG that were commissioned by water remediation company Phoslock, with a judge finding they were not created for the dominant purpose of providing legal advice.
Under pressure from parliamentary committee members, KPMG said late Friday it would waive privilege and hand over investigation reports from Allens and Ashurst, after initially resisting orders for documents.
A senator has criticised KPMG for claiming a commitment to transparency while also maintaining legal professional privilege over advice from Allens and Ashurst into the alleged misuse of confidential information.