Murray Goulburn insurer AIG Australia says it should not have to pay 20 per cent of a $42 million class action settlement reached by the dairy cooperative, arguing on Tuesday that the class action claims failed to satisfy the definition of a “securities claim” in its insurance policy.
Australia’s merger laws are not fit for purpose and the current approach to merger control needs to be rebalanced, the head of the ACCC has said in setting down the regulator’s agenda for 2021.
Ticket reseller Viagogo is seeking a stay of a $7 million penalty in litigation brought by the ACCC in light of the “catastrophic effect” of the COVID-19 pandemic, as the company appeals a court’s finding that it misled customers on an “industrial scale”.
A royal commission has been established in Victoria to look into whether Crown Melbourne is suitable to hold a casino licence in the state, following a damning report from the NSW gaming authority.
The former chief financial officer of delisted Traditional Therapy Clinics has appeared in court after pleading guilty to market manipulation charges relating to transactions intended to create an artificial share price for the traditional therapy clinic company.
Creditors of the company run by missing Sydney businesswoman Melissa Caddick are unlikely to recoup their investments, with a court hearing the accused fraudster has just $5,600 in her bank accounts.
Global investment banks and executives accused of engaging in criminal cartel conduct in relation to a $2.5 billion ANZ share placement in 2015 will seek to quash the “incomprehensible” indictment filed against them, claiming it is full of “fallacies”.
COVID-19 vaccinations will begin this week, but most employers won’t be able to force staff to get the jab.
A judge will not let proceedings brought by ASIC against four former Linchpin Capital directors drag on, slamming a “vague” excuse from one of the directors, who awaits word from his insurers on whether his defence costs will be covered, that London is still in a state of “total confusion” due to COVID-19.
IP Australia has rejected e-commerce giant Amazon’s patent application for a method of allocating resources in virtual computers, finding the patent’s claims were “nothing more than a scheme for scheduling work” and were not a manner of manufacture.