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NSW Police launch investigation into Forum Finance
The NSW Police have commenced an investigation into Forum Finance and director Bill Papas, which have been accused by Westpac, French investment bank Societe Generale and Japanese bank SMBC of a $400 million fraud.
ACCC to probe Apple Pay restrictions on banks
The Australian Competition and Consumer Commission is investigating competition concerns about Apple’s refusal to allow third party access to the near-field communication chip that allows iPhone users to make 'tap and go' payments through Apple Pay.
‘Curious choice’ to sue PwC and not Baker McKenzie, judge says
Chinese lender Aoyin must pay PricewaterhouseCoopers' legal costs for a vacated trial after Aoyin's eleventh hour decision to join Baker McKenzie to a $10 million cross-claim in a dispute concerning the accounting firm's advice on its failed bid to launch the first Chinese incorporated bank in Australia.
Halifax investors file Full Court appeal to boost recovery
Approximately 1,000 investors of collapsed stockbroker Halifax Investment Services have challenged a court decision concerning the date of the realisation of their investments which decreased the amounts they could recoup from the company's liquidation.
Sacked lawyer told to settle or face complaint to legal watchdog, court hears
A law firm may have exerted unfair or illegitimate pressure on a sacked solicitor when it told her to accept an offer to settle her adverse action case or risk referral to the legal watchdog, a judge has found.
Lawyer, directors of failed property group Members Alliance face 72 charges
An award-winning Gold Coast solicitor and four directors of the Members Alliance and Benchmark group of companies have been charged in connection with the collapse of the property investment group in 2016.
Hog’s Breath Cafe says franchisees behind class action ‘crying poor’ to avoid security
Franchisees of Hog’s Breath Cafe restaurant chain have been accused of “crying poor” by claiming COVID-19 robbed their restaurants of the cash flow required to pay security for costs in a class action launched against master franchisor HBCA.
PwC partner kept on JBS brief to maintain privilege despite CFO’s unhappiness
A PwC partner who the ATO claims was assigned to work on a matter for meat processing company JBS to bring a “cloak of legal privilege” kept a supporting role on the brief despite the company CFO’s dissatisfaction, a court has heard.
Merck Sharp & Dohme appeals judgment tossing Januvia patent extension
Merck Sharp & Dohme is seeking to overturn a judgment refusing an extension of a patent covering its Januvia and Janumet diabetes drugs that would have seen the US drug maker of retaining a monopoly over the multibillion dollar medicines beyond July 2022.
WiseTech accused in freight forwarder’s lawsuit of misusing market power
Freight forwarding company Mondiale has filed a lawsuit against Wisetech Global alleging the logistics software firm breached competition law by misusing its substantial market power.