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Sexual harassment is “alarmingly commonplace” in Australian law firms, with almost half of all women in the legal profession experiencing harassment at least once, a survey of lawyers in 135 countries has found.
‘Loose with the truth’ broker wins High Court challenge to ASIC ban
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The High Court has upheld an appeal by a mortgage broker with a history of run-ins with the law, finding that the Administrative Appeals Tribunal could not take spent convictions into account when reviewing ASIC ban orders.
Lachlan Murdoch’s Nova wins fight with Huawei over Aussie trade mark
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IP Australia has rejected an application by Huawei Technologies to register the trade mark Nova after a challenge by radio giant Nova Entertainment, with a delegate finding the Chinese telecommunications company had failed to prove its intention to use the mark.
ICOS drops second patent dispute over erectile dysfunction drug
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US biotechnology company ICOS has settled a dispute with Australian-based Arrow Pharma over the patents for erectile dysfunction drug Cialis, less than 12 months after a court upheld the validity of the patents in a separate case.
High Court to hear challenge to common fund orders in class actions
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The High Court has granted applications by Westpac and BMW to weigh in on the validity of common fund orders made in class actions, a decision that could have major ramifications for the way representative proceedings are funded.
Irrigators bring $830M class action against Murray-Darling Basin Authority
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Irrigators in Australia’s South East have launched a class action against the Murray-Darling Basin Authority claiming its mismanagement of the river system caused up to $830 million in losses.
ASIC wants Merlin Diamonds wound up over $13M in unauthorised loans
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The Australian Securities and Investments Commission wants ASX-listed diamond mining company Merlin Diamonds wound up, expressing concerns about the company’s solvency and over $13 million in loans made to companies associated with Merlin’s director, Joseph Gutnick, without shareholder approval.
Ex-Babcock & Brown execs dodge case over botched $1.4B acquisition
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A court has dismissed a long-running case against defunct Babcock & Brown executives by a private investment fund over a botched $1.4B acquisition of the biggest laundry equipment provider in the US, saying the executives did not breach their duties by failing to disclose that the bank underwriting the deal allegedly wanted out.
Court tosses Ponzi scheme investor’s $75M claim against liquidator Grant Thornton
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A court has thrown out a $75 million compensation claim filed by an investor in a Ponzi scheme alleging liquidator Grant Thornton Australia and its lawyers Colin Biggers & Paisley failed to return his funds expeditiously.
APRA ordered to hand over ASIC chats about IOOF exec
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APRA has been ordered to hand over all of its correspondence with fellow regulator ASIC relating to former IOOF chairman George Venardos, as he prepares to argue privilege over discovery that might incriminate him in any possible ASIC proceedings.