Corporate

An executive director at ASIC has said the High Court has “opened the door” for regulators to rely on a new way to prove corporate wrongdoing that does not require establishing that individuals within a company had a wrongful intent or relevant knowledge. 

A judge has questioned whether Macquarie Financial should get 70 per cent of an interim $102 million distribution to people who sank their retirement savings into Keystone’s Shield Master Fund, which is being investigated for misuse of investor funds.

Cement Australia has lost its bid to have a construction issue relating to a deed of release in a fight with a defunct subsidiary over a $1.2 million asbestos claim determined ahead of trial.

The founders of AI data centre start-up Firmus Grid have been subpoenaed to give evidence in a dispute between former business partners Simon Raftery and Ben Madsen over $100 million in company shares, ahead of an expected $7 billion IPO.

Venture capital firm EVP has won court approval to pursue claims against bankrupt Strongroom AI founder and former director Christopher Durre.

Woodside Energy has exercised its pre-remption rights to block Inpex's acquitision of PetroChina's interest in the Browse Basin gas joint venture off Western Australia's coast.

Power plant investor Sev.en has filed an urgent application for access to the financials of Millmerran Power Station as it looks to sell its stake in the energy infrastructure asset, saying it may have claims of misleading conduct.

The Australian Tax Office is challenging a decision for Shell over a $99 million capital gains assessment in the energy giant's sale of its Woodside stake.

ASIC has told a senate estimates committee that it is now formally investigating KPMG in the wake of allegations the firm misused client data. 

Preventing a DOCA for the Milligan-owned developer of the troubled $1.8 billion Halo Tower skyscraper in Sydney could cause $100 million in losses and jeopardise a sale to Cbus set to settle in July, a court has heard.