A court has upheld two decisions by the Australian Government Takeovers Panel that a bid by asset manager Aurora Funds Management to replace Molopo Energy’s directors was made in “unacceptable circumstances”.
Grain handling group Viterra has been denied a post-hearing bid to reopen a lawsuit brought by Cargill Australia over its $420 million acquisition of Joe White, with a judge finding the application would lead to “substantial disruption and delay”.
Seven West Media has filed a lawsuit against Bauer Media to compel the German company to complete its planned $40 million acquisition of the Australian media giant’s Pacific Magazines unit.
Sparke Helmore has admitted that legal advice it provided to IOOF subsidiary Australian Executor Trustees was inadequate but has argued it should be responsible only for up to 10 per cent of the $76.6 million judgment against AET over the sale of a timber plantation by collapsed forestry giant Gunns Group.
The competition watchdog has signed off on the $16 billion acquisition of Carlton & United Breweries by Asahi after the Japanese beer giant offered to shed key beer and cider brands to seal the deal.
The Australian Competition and Consumer Commission has approved Coles’ planned acquisition of chilled meals supplier Jewel, saying the sale was better for competition than the liquidation of Jewel’s assets.
The Australian Securities and Investments Commission will continue its enforcement activities amid the spread of the coronavirus but will prioritise cracking down on behaviour that threatens “immediate consumer harm”.
Billionaire Clive Palmer has lost his appeals court fight to shut down criminal proceedings alleging his resort company breached takeover laws, with three judges saying his claims were untenable.
A Pacific Current shareholder has won court approval to bring a derivative lawsuit against certain current and former directors of the funds management company for allegedly breaching their duty of care and diligence in relation to the company’s 2014 merger with US-based Northern Lights Capital Group.
Baker McKenzie has nabbed former King & Wood Mallesons special counsel Charlie Detmold for the law firm’s key banking and finance practice in Melbourne.