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In a case believed to be the first of its kind, the liquidators of boiler room trader Forex Capital Trading have sued ASIC, seeking to claw back over $20 million in fines and costs they says constituted unfair preference payments and should be distributed among the company’s out-of-pocket clients.
Federal environment minister Tanya Plibersek wrongly focused on the net effect of approving an application by MACH Energy and Whitehaven Coal to extend two mega coal mines in New South Wales, an advocacy group has told an appeals court.
A Melbourne orthopaedic clinic has lost its bid to register the name ‘Melbourne Bone and Joint Clinic’ as a trade mark, with a judge finding the phrase was just an ordinary combination of words.
Mining magnate Clive Palmer has lost an appeal seeking to throw out two criminal cases over a takeover bid and payments to his political party, with an appeals court finding the challenge was an abuse of process.
SkyCity has reached an agreement with AUSTRAC in proceedings alleging it allowed $4 billion in suspicious transactions, setting aside $73 million to cover penalty and costs.
The Minister for Agriculture has rejected an offer to settle a nine-year-old class action over the government’s 2011 ban on the live export of cattle for $510 million plus up to $390 million in legal costs and interest.
An environmental group has lost its case alleging the federal government failed to take climate change into account when it renewed an agreement for logging in New South Wales, with a judge saying it was a ‘political’ issue rather than one for the courts.
The Australian Securities and Investments Commission has lost its bid to pursue a disciplinary case against former Grant Thornton director Bradley Taylor over his 2018 audit of fintech firm iSignThis while criminal proceedings are ongoing.
Companies and government entities paid out less to settle class actions in 2023 than in the previous two years, with no mega settlements hitting their pocketbooks.
A $27.5 million settlement reached in a class action over the alleged unlawful detention of 240 Indonesian children has won court approval, but the applicant's legal costs remain subject to negotiations.