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Freezing orders extended against developer James Raptis in $110M tax case
A judge has extended asset freezing orders until next year in a $109.5 million case brought by the tax office against Gold Coast property developer James Raptis and his companies.
ACCC greenlights Meta’s proposed acquisition of Kustomer
The Australian Competition and Consumer Commission says Meta’s proposed acquisition of customer relationship management start-up Kustomer is unlikely to have any substantial impact on competition.
PwC hit with $43M negligence lawsuit by failed VET provider Cornerstone
Accounting firm PricewaterhouseCoopers is facing claims of professional negligence by insolvent tertiary education provider Cornerstone for allegedly assisting the company's former director in overstating the company's revenue and unlawfully extinguishing his debt.
Ex-Healthe Care exec fined $10,000 for insider trading
A former executive of hospital operator Healthe Care has been sentenced and fined $10,000 after pleading guilty to one charge of insider trading for acquiring a large number of the company's shares while in possession of inside information regarding plans to acquire a rival hospital operator.
‘Gentle’ trading in ANZ shares an individual decision by banks, ex-JPMorgan boss says
A former JPMorgan managing director has said the three investment banks at the centre of an alleged cartel made individual decisions to trade “gently” in ANZ shares but were conscious of their fellow underwriters' risks following a botched share placement in 2015.
ASIC accuses Mayfair’s James Mawhinney of breaching 20-year ban
The Australian Securities and Investments Commission has asked a court to hold Mayfair 101 director James Mawhinney in contempt, saying he has breached a 20-year ban on raising funds.
Drug ingredient maker Alkaloids of Australia pleads guilty to cartel charges
Pharmaceutical ingredient producer Alkaloids of Australia has pleaded guilty to cartel conduct over the supply of a key chemical found in generic stomach cramp drugs.
Judge questions ASIC’s ‘very, very modest’ $750,000 penalty against La Trobe Financial
A judge has expressed hesitation about a $750,000 penalty proposed by the Australian Securities and Investments Commission in its misleading advertisement case against $5.15 billion credit fund La Trobe Financial Asset Management, calling the amount “very, very modest”.
Emirates Group can’t recoup $10.5M paid to Australian staff through JobKeeper
Eight companies in the Dubai-based Emirates Group have lost a court bid to recoup more than $10.5 million paid to Australian staff during the COVID-19 pandemic on the mistaken belief that the money would be repaid as part of the federal government's JobKeeper subsidy scheme.
Woolworths class action settlement to cover $1.75M legal bill, but no payout for group members
Woolworths has agreed to pay $1.75 million in Adero Law's legal costs as part of a settlement of an underpayments class action which will see group members recoup any amounts they are owed in a separate proceeding brought by the Fair Work Ombudsman rather than the class action.