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Banks lose cases against directors over $2.8B collapse of steel giant Arrium
Restructuring & Insolvency 2021-08-17 12:15 pm By Christine Caulfield

A judge has dismissed two cases brought by the Commonwealth Bank, Westpac and other lenders against directors of the failed steel giant Arrium, saying he was not satisfied the directors’ representations on loan drawdown notices were false or that the company was insolvent when it went into voluntary administration in April 2016.

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Worley budget adjustments were ‘drop in the ocean’, Full Court hears in class action appeal
Class Actions 2021-08-17 10:19 pm By Cindy Cameronne

Worley’s increases to a budget behind an allegedly misleading 2014 earning guidance, amounting to $1.14 million, were a “drop in the ocean”, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.

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Finish Powerball maker sues detergent rival for ‘deceptively similar’ packaging
Intellectual Property 2021-08-17 4:00 pm By Bianca Hrovat

The maker of Finish dishwashing products is seeking an urgent injunction to clear a competitor’s products from supermarket shelves, alleging trademark infringement over “deceptively similar” packaging depicting dishwasher gel caps.

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ACCC wins $1.5M penalty against sporting goods retailer Decathlon
Competition & Consumer Protection 2021-08-17 10:01 pm By Bianca Hrovat

International sporting goods giant Decathlon has been ordered to pay a $1.5 million penalty for selling hundreds of basketball hoops and inflatable swimming pools that did not comply with mandatory safety standards.

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Shareholders looking to revive class action say Worley pursued ‘growth stock’ ambitions over accuracy
Appeals 2021-08-16 9:09 pm By Cindy Cameronne

Worley crafted the budget behind an allegedly misleading 2014 earnings guidance so that its shares could be rated as a “growth stock”, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.

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HWL Ebsworth, Vannin targeted in latest dispute over Queensland Nickel joint venture
Restructuring & Insolvency 2021-08-16 2:26 pm By Miklos Bolza

Three Clive Palmer-owned companies have filed a breach of trust lawsuit against HWL Ebsworth, funder Vannin Capital and the liquidators of Queensland Nickel attempting to recoup $102 million transferred after the billionaire suffered a courtroom defeat earlier this year.

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Use of CBA app for notice of $7M penalty in ASIC case not appropriate, judge says
Financial Services 2021-08-16 2:50 pm By Christine Caulfield

A judge has refused to order Commonwealth Bank of Australia to publish notice of a $7 million penalty in a case brought by ASIC on its mobile app, but the bank will have to alert customers to its misconduct on its website and online newsroom.

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Judge finds documents from Google’s ‘Oh Shit’ meeting relevant to penalty
Competition & Consumer Protection 2021-08-16 5:18 pm By Miklos Bolza

Google will have to hand over documents relating to its infamous ‘Oh Shit’ meeting to the ACCC, with a  judge finding the material was “sufficiently likely” to be relevant to any penalties the search giant will face for misleading consumers about use of their location data.

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Arasor class action applicant can’t dodge funder’s legal bill after ‘shambolic’ handling of side dispute
Class Actions 2021-08-16 12:34 pm By Cat Fredenburgh

The lead applicant in a settled shareholder class action against technology company Arasor can’t dodge funder International Litigation Partners’ costs, which it was ordered to pay after a judge rejected its “shambolic” attempts to be heard over a $1.2 million personal expenses dispute with the funder.

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Ex-gangland lawyer fined for misleading Legal Services Commissioner
Legal Ethics 2021-08-16 12:50 pm By Bianca Hrovat

A Melbourne lawyer, who formerly represented gangland figures, has been reprimanded and fined $9,000, after a court found he recklessly misled the Victorian Legal Services Commissioner regarding his involvement in a de-facto relationship matter in which unsatisfactory professional conduct was allege

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