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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.
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.
Construction PRO
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.
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.
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.
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.
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.
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.
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.