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Receivers, not just liquidators, can distribute assets to satisfy priority claims of an insolvent company’s employees, a judge has ruled, settling a question of law under the Corporations Act.
ACCC decision on $15B TPG, Vodafone tie-up expected in May
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The ACCC will announce in May whether it will approve the proposed $15 billion merger of telco giants TPG and Vodafone Hutchison Australia, after the parties’ failure to comply with requests for information caused the regulator to suspend its timeline last month.
Whitehaven Coal fined $38k for hazardous fumes at blast site
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Australia’s largest independent coal producer Whitehaven Coal Mining has been convicted and fined $38,500 after potentially harmful gas drifted from one of its mines across neighbouring farmland.
Sandoz wins stay of $26.3M Lexapro judgment
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Generic pharmaceutical firm Sandoz has won a temporary stay of a $26.3 million judgment in a patent case as it awaits a decision by the Commissioner of Patents regarding a licence to make a cheaper version of the bestselling antidepressant Lexapro.
Class action trial against WorleyParsons back on as new judge steps in
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Trial in a shareholder class action against engineering company WorleyParsons will be heard by a new judge in late August, six months after it was unexpectedly vacated.
MACH Energy faces $13M lawsuit by second fired exec
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Mach Energy is fighting a second lawsuit by a former director alleging he is owed $13 million in shares under an equity incentive scheme based on the performance of the Mount Pleasant coal project acquired from Rio Tinto in 2016.
ASIC wins case to wind up landbanking scheme Aviation 3030
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The Australian Securities and Investments Commission has won its bid to appoint liquidators to solvent landbanking company Aviation 3030, with a judge saying ASIC’s public-interest case for the scheme’s winding up was “overwhelming”.
Judge won’t toss $17.5M Equititrust lawsuit against Tucker & Cowen
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A name partner at law firm Tucker & Cowen and the firm itself have lost their bid for summary dismissal of a lawsuit brought by the receiver of failed fund manager Equititrust seeking to recover $17.5 million allegedly acquired through deceptive means.
Bird & Bird lawyer’s communications not privileged in IP fight over Golden Girls parody
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A judge has rejected a claim of legal privilege over emails at the centre of a copyright lawsuit over a puppet-show parody of the 80s sitcom Golden Girls, a production that has spawned legal action between the collaborators in New York and Australia.
Judge wants four referees in toxic foam class actions
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The Chief Justice of the Federal Court wants four referees to weigh what’s expected to be voluminous expert evidence in three class actions against the Commonwealth of Australia over exposure to allegedly toxic foam used on a government military bases, saying with 60 class actions pending in the Federal Court, devoting a single judge to the case for months on end should be a “mechanism of last resort”.