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Construction PRO
Morisson’s UTA takes full stake in Sydney Desalination Plant
Advised by Johnson Winter Slattery, Morrison-managed investment fund Utilities Trust of Australia has bought out a Canadian pension fund for full ownership of the Sydney Desalination Plant.
Court rejects Walter Sofronoff’s challenge to corrupt conduct finding
The Federal Court has dismissed Walter Sofronoff KC’s legal challenge to the ACT Integrity Commission findings that he engaged in corrupt conduct in his inquiry into the prosecution of Bruce Lehrmann.
Bupa must pay $35M in unconscionable conduct case
A court has slapped private health insurer Bupa with a $35 million penalty after it admitted to misleading thousands of customers about their benefits for over five years.
ACCC battles Mastercard, major companies over suppression bids
The competition regulator has cited the public interest in its misuse of market power case against Mastercard in fighting suppression applications by the credit card giant and its heavy-hitter customers, including Coles and Visa.
Construction PRO
Burwood apartment developer can retain deposit after email repudiation by buyer
The developer of an apartment complex in Melbourne's east can retain a $883,000 deposit from convicted fraudster Demetrios 'James' Charisiou's real estate investment firm, which was found to have repudiated a contract over email.
Webjet denies company lawyer was fired for questioning CEO’s resume
In a defence to its former chief legal officer's unfair dismissal case, online travel agency Webjet says the sole reason for her sacking was “ongoing underperformance”.
Mayne says it’s not on hook for break fee over failed Cosette merger
Mayne Pharma says it, and not US drug maker Cosette, has terminated their $672 million merger agreement and that it is therefore not on the hook for a break fee.
AMP to pay $29M to settle another royal commission class action
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.
IAG to fight regulator’s rejection of $1.3B RACWA merger
The ACCC has opposed IAG’s proposed $1.35 billion acquisition of RACWA's insurance operations, saying the deal would substantially lessen competition for motor vehicle and home and contents insurance in Western Australia.
Construction PRO
Fight breaks out over $3.5M surplus from Callide administration
IG Energy and former subsidiary IG Power -- now owned by Czech investment firm Sev.en -- are fighting over a $3.5 million surplus from the administration of IG's interest in the Callide Power Station in Queensland.