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Split hearings involving credit ‘untenable’ if High Court backs recusal, judge says
Appeals 2025-06-27 11:25 pm By Cindy Cameronne

The common practice of splitting hearings on questions of liability and penalty may become “completely untenable” when there are credit issues, if the High Court upholds a recent recusal decision, a judge has said.

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ASIC takes action against companies of steel baron Sanjeev Gupta
ASIC 2025-06-27 11:13 pm By Cat Fredenburgh

The corporate regulator has brought action against three companies in Sanjeev Gupta’s steel empire, alleging the businesses have defaulted on their obligations to lodge annual financial reports.

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Construction PRO
Companies of Sanjeev Gupta targeted over annual reports
Construction 2025-06-27 11:40 pm By Christine Caulfield

Companies in Sanjeev Gupta’s steel empire, including the collapsed owner of Whyalla Steelworks, has been hit with action for allegedly failing to lodge annual reports with ASIC.

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Keystone’s $150M case against developers to continue despite possible charges
Restructuring & Insolvency 2025-06-24 11:42 pm By Andy Sidler

A judge has rejected bids by former Keystone director Paul Chiodo and developer Robert Filippini to stay a $150 million suit, citing investors’ interests as a “powerful” factor weighing against the stay.

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Developers want $150M case shut down amid ‘likely’ criminal charges
Restructuring & Insolvency 2025-06-23 11:50 pm By Andy Sidler

Property developers Paul Chiodo and Robert Filippini want to stay proceedings by Keystone’s receivers over $150 million allegedly laundered through City Built’s construction projects, citing “quite likely” criminal charges. 

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HBSC denies ASIC claims it failed to protect customers from scams
Financial Services 2025-06-20 11:21 pm By Sam Matthews

HSBC has hit back at ASIC’s claims that it failed to protect customers from scams, denying it breached its legislative duties despite admitting some of the regulator’s allegations concerning its compliance with the ePayments code, a voluntary code of conduct.

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ASIC settles case against Hong Kong-based blockchain miner
ASIC 2025-06-18 11:16 pm By Cindy Cameronne

Blockchain mining company NGS Crypto has consented to orders sought by ASIC amid concerns that hundreds of Australians who sank $21.1 million into the business were misled about the safety of their investments.  The Australian Securities and Investments Commission took NGS Crypto Group and its Australian subsidiaries to court, seeking orders winding up the companies,…

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Dubber sues auditors BDO over $26M in alleged missing funds
Professional Negligence 2025-06-17 2:53 pm By Sam Matthews

Software company Dubber has filed a negligence suit against its former auditors, BDO, over $26.6 million in alleged missing company funds and flagged further lawsuits as part of its recovery efforts.

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PwC report found TerraCom netted $1.1M from inconsistent coal pricing, court hears
Trials 2025-06-16 11:41 pm By Andy Sidler

ASIC has told a court that a PwC report into allegations of inaccurate coal pricing found that 12 “inconsistent” invoices issued by TerraCom resulted in a $1.15 million benefit to the company, contrary to the company’s claim that the audit found no wrongdoing.

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ASIC launches probe into ASX after ‘repeated failures’
Securities 2025-06-16 10:55 am By Cindy Cameronne

The corporate regulator has launched an inquiry into the Australian Securities Exchange following “repeated and serious failures”, while discontinuing its investigation into a one-day technical failure in December 2024.

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