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Proposals by Australia’s banks to revise its code of conduct in line with the recommendations of the banking royal commission don’t go far enough, the consumer watchdog said Friday.
United Petroleum faces court accused of evading Fair Work investigators
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United Petroleum has been hit with legal action by the Fair Work Ombudsman, which accuses the petrol retailer of failing to produce records as part of an investigation of workplace breaches.
Coles’ $40M tax claim on evaporated fuel ‘artificial’, judge rules
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Supermarket giant Coles has lost an appeal over $40 million in tax credits it had claimed for fuel that evaporated or leaked from tanks at its service stations, after a judge described the supermarket giant’s argument as “artificial”.
ACCC flags concerns about Resource Management Service timber sale
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The Australian Competition and Consumer Committee has flagged preliminary competition concerns and called for public submissions on a proposed sale by US-based timberland investment manager Resource Management Service of its Tasmanian assets.
Sparke Helmore off the hook as court slams IOOF unit with $81M judgment over plantation sale
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IOOF subsidiary Australian Executor Trustees has been hit with an $80.6 million judgment after breaching its duty as trustee in the sale of a 42,000 hectare timber plantation by collapsed forestry giant Gunns Group, and it can’t pass the liability on to Spark Helmore, despite the law firm’s inadequate advice.
Landowners lose appeal over $56.5M payout for Westconnex project
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A group of Sydney commercial landlords whose properties were compulsorily acquired for the WestConnex project have lost an appeal seeking $56.5 million in compensation, after the Valuer-General offered them just over half that amount.
‘Serious questions’ raised over conduct of lawyers, funder behind Banksia class action, judge says
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A judge overseeing a settled class action against failed Banksia Securities has rejected an application to limit a contradictor’s investigation of alleged professional misconduct on the part of the legal team and funder behind the case, saying he was satisfied there was a proper basis for the allegations.
Yes whey: ACCC signs off on Saputo-Lion dairy acquisition
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The competition watchdog has given Canadian dairy producer Saputo the green light to acquire Australian competitor Lion Dairy’s cheese processing plants, but has warned any further consolidation in the Tasmanian dairy sector would cause significant concern.
Israel Folau offered to apologise for homophobic rant, Rugby Australia tells court
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Former Wallabies star Israel Folau offered to make a public apology for a homophobic social media slur that got him fired, a court has been told.
Farooq Khan’s Bentley Capital sues Keybridge in latest bid to oust Nicholas Bolton as CEO
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Perth-based Farooq Khan has taken his bitter dispute with activist investor Nicholas Bolton to court, suing Keybridge Capital and two of its four directors ahead of a general shareholder meeting next month.