The Australian Securities and Investments Commission has dropped all but one claim against Rio Tinto in a four-year-long case over disclosures related to its troubled $5.8 billion acquisition of a Mozambique coal mining business and abandoned all claims against the mining giant’s former CEO and CFO.
The Australian Competition and Consumer Commission is considering whether new laws are needed to rein in Google, Apple and Facebook, including rules to curb self-preferencing conduct and strengthen the merger review framework.
The self-declared “wolf trader” of the Gold Coast, Tyson Scholz, will not have to provide a concise statement in response to the Australian Securities and Investments Commission’s case accusing him of providing unlicensed financial services, a judge has ruled.
Former legal representatives of companies in the Mayfair 101 group are considering an application to strike out part of an appeal that alleges their “flagrant incompetence” led to director James Mawhinney copping a 20-year ban on soliciting investor funds.
The High Court has shot down Greensill founder Lex Greensill’s bid for special leave to challenge a finding that he owes tax on $58 million in capital gains, including income from the sale of shares in the collapsed UK-based supply chain finance company.
PepsiCo has launched proceedings disputing claims by the Australian Taxation Office that amounts paid by Schweppes for local bottling and distribution services were royalties and had to be taxed accordingly.
Energy Beverages, which makes Mother brand energy drinks, has failed to convince a judge that two of its ‘Mother’ trade marks should not be removed for non-use.
Logistics company GetSwift and its directors are appealing a win for ASIC in the regulator’s case that alleged they breached their continuous disclosure obligations and engaged in misleading and deceptive conduct in the release of 22 ASX announcements.
The Australian Securities and Investments Commission has lost an interim injunction bid against the director of investment firm Mayfair 101 in its case seeking a contempt finding, despite arguing there was a substantial risk of harm to consumers.
Aware Finance, formerly StatePlus, has been fined $20 million for charging over 25,000 customers approximately $50 million for services they did not receive.