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As a new report warns of the devastation to Australia of ignoring climate change, the Albanese government has vowed to invest over $1 billion to support more sustainable fuel options.
AMP to pay $120M to settle superannuation class action
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AMP has agreed to pay $120 million to settle a class action stemming from the banking royal commission which accused it of overcharging millions of superannuation members over a 12-year period.
ASX accused of sacking head of trading tech after CHESS complaints
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A former head of trading technology at the ASX has filed a lawsuit claiming he was axed after he raised concerns about insufficient resources to operate the market properly, including in relation to the exchange’s CHESS replacement project.
Union drags ANZ to Fair Work Commission over mass layoffs
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The Finance Sector Union has accused ANZ of being a “bank in crisis”, launching a case in the Fair Work Commission over its handling of mass job cuts.
Man sentenced for insider trading in relation to $776M Westfarmers deal
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A Melbourne man has been sentenced to 18 months imprisonment after pleading guilty to trading while in possession of inside information in advance of Westfarmers’ $776 million acquisition of lithium company Kidman Resources in 2019.
Novo director breached duty to prevent insolvent trading, court finds
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A judge has found a director of defunct IT company Novo breached his duty to prevent the company from trading while insolvent, but has stopped short of ordering damages, or making findings he breached other duties.
Brisbane Airport can’t access PFAS info in $690M row with Airservices
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Brisbane Airport has lost its bid for information about government-owned Airservices’ handling of PFAS at other airports, in their $690 million dispute over use of the chemicals at the Queensland airport.
New freezing orders cover up to $158M in assets of Keystone-linked developer
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Liquidators of defunct investment firm Keystone Asset Management have won expanded freezing orders to cover property up to $158 million in the name of developer Robert Filippini and family members.
Renewables company sued over unpaid commissions on $50M solar project
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Proval Renewables has filed a lawsuit against renewables company May Brothers Holdings, seeking to hold it to an agreement to make commission payments of $4.5 million on a $50 million solar project.
Dreamworld contractor successfully challenges SOPA decision
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A theme park manufacturer contracted by Dreamworld to undertake $5 million in works has won a challenge to an adjudicator’s decision that found a payment claim was invalid because the company didn’t have a building licence.