A Federal Court suit by HR company Employment Hero accusing investor and rival Seek of misusing its market power has been resolved.
Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.
Reforms to Australia’s merger review regime kicked in on 1 January, but late-breaking amendments to the new laws mean changes to notification thresholds and further exemptions.
A judge has ordered Australian Unity to pay a $7.1 million penalty in ASIC proceedings alleging it pumped more than $9.5 million into a risky mortgage scheme without properly vetting investors.
A judge has allowed a shareholder class action over the collapse of asset manager Blue Sky to bring insider trading claims against several short sellers, as well as brokers Credit Suisse and Argonaut Securities.
A group of insurers can’t join Northwest Rail Link joint venture partners MTR and UGL to a suit by CPB Contractors and John Holland over a $100 million policy, with a judge saying the joint venture’s interests in the case are commercial rather than legal.
The liquidators of Falcon Capital, which is suspected of having misused $450 million in investor funds, have sued a Melbourne property developer, claiming he knowingly assisted Falcon to loan millions in trust money in a “dishonest and fraudulent design”.
The liquidators of a defunct developer FSM have lost their bid to access unredacted copies of emails between Ray White Capital and King & Wood Mallesons.
Northwest Rail Link builders CPB Contractors and John Holland are pushing back against a bid by several insurers to join joint venture partners MTR and UGL to a coverage spat over a $100 million policy.
AMP has agreed to pay $29 million to settle a class action alleging insurance customers were overcharged, putting to rest another case stemming from “serious misconduct” that came to light curing the 2018 banking royal commission.