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The Australian Competition and Consumer Commission has apologised for botching the announcement of its plan to block the $15 billion merger of TPG and Vodafone, blaming a computer glitch for the error.
‘Fantastic, in the true sense of the word’: judge slams Appco class action funder’s 40% cut
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A judge has raised serious concerns about the proposed commission by the funder behind a $90 million sham contracting class action against fundraiser Appco, slamming as “intuitively wrong” an arrangment that could leave group members pocketing less than half of any recovery.
SARB seeks to park vehicle detector patent case, says dispute settled 5 years ago
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Melbourne-based civic compliance firm SARB Management Group wants to put the brakes on a case brought by tech company Vehicle Monitoring Systems over a patented method for detecting vehicles, in a dispute it says was finalised in a settlement reached almost five years ago.
Trial date at risk as Iluka Resources class races to lock in new funder
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The applicants in the Iluka Resources investor class action have just 14 days to sort out their funding troubles and provide a $1.25 million security, as a judge warns he will not be able to hold their trial date any longer.
MACH Energy attacks former director’s ‘inconsistent’ pleadings in $20M lawsuit
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Mining firm MACH Energy may move to strike out “inconsistent” pleadings in a $20 million lawsuit brought by its former managing director, Scott Winter, whose discovery delays have raised the ire of the judge hearing the case.
ASIC’s Shipton clarifies ‘why not litigate’ approach
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The Australian Securities and Investments Commission chair James Shipton has clarified the regulator’s “why not litigate” approach to enforcement, saying it does not mean “litigate first” or “litigate everything”.
BHP wins bid for High Court intervention in $82M fight with tax office
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The High Court has agreed to take up an appeal by mining giant BHP Group Limited in its battle with the Australian Tax Office over an $82M tax bill.
Common fund orders on shaky ground as High Court grants special leave to Westpac, BMW
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The writing may be on the wall for common fund orders in class actions that put all unregistered group members on the hook for a litigation funder’s commission, after the High Court agreed Wednesday to take up landmark challenges by Westpac and BMW, experts say.
Class actions still loom as ASIC drops probe into Blue Sky
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The Australian Securities and Investments Commission has dropped its probe into Blue Sky over possible violations of its continuous disclosure obligations, but the fund manager still faces three active shareholder class action investigations.
ACCC loses court challenge to Pacific National, Aurizon terminal deal
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The Australian Competition and Consumer Commission has suffered a major defeat in its challenge to Pacific National’s proposed $205 million acquisition of competitor Aurizon’s Queensland freight terminal, with a judge saying he was appeased by a last-minute promise from Pacific that it would not block third parties from accessing the terminal.