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Tax adviser hit with record $22.7M fine over R&D tax scheme
Tax 2021-02-16 5:35 pm By Miklos Bolza

A tax agent and accountant who conducted multiple tax exploitation schemes between 2011 and 2015 has been hit with a $22.7 million penalty, the largest ever against a tax promotor.

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PwC takes swipe at class action over $50M bond prospectus
Class Actions 2021-02-16 5:30 pm By Cat Fredenburgh

PricewaterhouseCoopers is looking to shut down a class action by irate bondholders of collapsed asset finance lender Axsesstoday Limited over alleged misrepresentations in a $50 million bond offer.

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Full Court hears government’s $325M fight with Sanofi over ban on Plavix generic
Intellectual Property 2021-02-16 4:13 pm By Miklos Bolza

Pharmaceutical companies Sanofi and Bristol-Myers Squibb are liable for losses to the federal government for excess subsidies it allegedly paid for the blood-thinner Plavix after an unjustified court injunction prevented the release of a generic version of the top-selling drug, an appeals court has heard.

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$37.75M settlement reached in Estia Health class action
Class Actions 2021-02-16 12:48 pm By Cat Fredenburgh

A $37.75 million settlement has been reached in a shareholder class action against Estia Health that accused the aged care provider of failing to disclose difficulties in its 2015 and 2016 acquisition strategy.

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Merck Sharpe & Dohme sues Sandoz to block Januvia generic
Intellectual Property 2021-02-15 9:43 pm By Spencer Fowler Steen

US pharmaceutical giant Merck Sharp & Dohme has taken Sandoz to court for allegedly threatening to infringe the patent for its multibillion-dollar diabetes drugs Janumet and Januvia.

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GetSwift slammed for ‘unfair attack’ on judge hearing class action, ASIC case
Class Actions 2021-02-15 7:18 pm By Miklos Bolza

GetSwift has been criticised for its “quite unfair attack” on a Federal Court judge who refused to disqualify himself from hearing a shareholder class action against the logistics software company after presiding over ASIC’s civil penalty proceeding against the company.

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Hyundai faces class action investigation over recalled cars
Class Actions 2021-02-15 7:08 pm By Cindy Cameronne

South Korean car maker Hyundai is facing a possible class action after it recalled over 90,000 cars earlier this month over safety concerns. 

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Law firm ordered to cease acting in $51M property spat with ex-client
Legal Ethics 2021-02-15 3:59 pm By Spencer Fowler Steen

A judge has ordered a Melbourne-based law firm to stop acting for property company Xriso in a case against a former client over the terms of a deposit for a $51 million Werribee development in which the firm’s managing partner is likely to be a key witness.

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Liquidators say Arrium directors should have known about ‘liquidity crisis’ sooner
Restructuring & Insolvency 2021-02-15 3:41 pm By Miklos Bolza

The directors of steel giant Arrium, which collapsed owing $4 billion in debts, should have known earlier that the company was in a “liquidity crisis” and was trading while insolvent, liquidators for the company allege.

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ACCC’s conduct in cartel case ‘troubling’, says lawyer for NQCranes
Competition & Consumer Protection 2021-02-15 2:31 pm By Christine Caulfield

Counsel for Queensland-based NQCranes has lashed out at the ACCC for seeking to amend its cartel action against the crane company, telling a court the regulator had been warned for months that the case was deficient.

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