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ASIC’s newly installed chief on Thursday slammed banks and other financial firms for their “trust deficit” and vowed to deploy “every inch of our powers and tools” to go after violators.
ACCC flags concerns over Transurban bid for WestConnex
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The Australian Competition and Consumer Commission has raised concerns that the proposed $2 billion acquisition of Sydney toll road WestConnex by toll road operator Transurban may stymie competition for toll road projects in Australia.
Telstra wins temporary block on Optus ‘Empires End’ ad
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Optus was ordered Wednesday to temporarily pull an ad that Telstra alleges makes a false and damaging claim about the superiority of Optus’ mobile network.
Blackmail case dropped against CFMEU bosses John Setka, Shaun Reardon
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Construction, Forestry, Mining, and Energy Union bosses John Setka and Shaun Reardon have walked free from court after prosecutors on Wednesday dropped blackmail charges related to the union’s boycott of Boral concrete.
Radio Rentals to pay $2M following ASIC probe
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The Federal Court has ordered appliance and furniture leasing company Radio Rentals to pay a $2 million penalty for failing to verify consumers’ financial situations before signing them up for leases.
Aerocare loses Federal Court appeal over workplace agreement
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The Full Federal Court on Tuesday dismissed an appeal by aviation services company Aerocare of a ruling rejecting an enterprise agreement the Transport Workers Union called “substandard”.
Quinn Emanuel AMP financing heralds era of class action beauty pageants
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The financing arrangement underwriting Quinn Emanuel’s shareholder class action against AMP, which will earn its partner Burford Capital a record low 10 percent of any recovery, sets a new standard in class action litigation funding, and is expected to spark greater price competition in the industry.
Yazaki ordered to pay record $46M for price fixing on car parts
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The Full Federal Court has slapped Japanese car parts maker Yazaki Corporation with a $46 million penalty for colluding with a competitor on prices for wire harnesses supplied to Toyota, handing a win to the ACCC which argued the original $9.5 million penalty handed down did not reflect the seriousness of the conduct.
Apple can’t use outside lawyer to defend case before FWC
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Apple has lost its bid to be represented by an outside lawyer in an unfair dismissal dispute, with the Fair Work Commission saying Monday the case was not inherently complex and the company’s inhouse legal counsel had time to bone up employment litigation.
Roche asks court to stop launch of Novartis’ MabThera biosimilar
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Drug giant F. Hoffman-La Roche asked the Federal Court Tuesday for an order barring the release of a generic version of its blockbuster cancer drug MabThera by a unit of Swiss rival Novartis, which it claims could lead to “tens of millions of dollars” in losses.