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A court has dismissed by consent a case launched by a group of Banksia Securities investors against the law firm that acted for the funder of a scandal-ridden class action.
Ex-Deloitte partner replaced for aspects of Mosaic liquidation
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Special purpose liquidators have been appointed to failed clothing retailer Mosaic Brands, after a judge found a reasonable apprehension of bias arising from liquidator Vaughan Strawbridge’s former link to Deloitte.
Woolworths hit with class action over underpayments disclosures
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Woolworths has been hit with a shareholder class action for underpaying workers hundred of millions of dollars, with investors alleging the supermarket giant issued inflated financial statements by failing to account for proper staff remuneration.
Titan paints Pentana as villain to divert from ‘brazen’ copyright theft, trial told
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Car dealership software firm Pentana has accused competitor Titan of a “calculated, sustained and brazen” invasion of its rights, and argues cross-claims of misuse of market power are a distraction.
Timber company loses fight with Valuer-General over $110M forest
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Grand Ridge Plantations has lost an appeal seeking to halve the official valuation of its Gippsland timber forest, with a court finding that the trees on the land must be included in its assessed value.
Sun Pharma defeats appeal over Otsuka’s injectable Abilify patent
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The Full Federal Court has upheld a decision revoking Otsuka Pharmaceuticals’ patent extension for an injectable version of antipsychotic drug Abilify, finding the patent expired last year.
Pipe manufacturer Buteline added to residential defects suit
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New Zealand-based pipe manufacturer Buteline has been added to a case seeking damages over the installation of allegedly defective water pipes in a residential building in the Northern Territory.
CIMIC sells half of UGL Transport for $500M
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Engineering firm CIMIC has sold off half of its transport business, UGL Transport, to a Japanese company for $500 million, as it looks to expand into new markets.
Homes Victoria must release public housing tower docs, report says
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A parliamentary committee has said the Victorian government must release all evidence supporting the demolition of 44 public housing towers in Melbourne, some of which are the subject of a dismissed class action that is being appealed.
Allens reps Pamoja Capital in sale of UniLodge to Samty
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Law firm Allens is behind the recent sale by Pamoja Capital of a majority stake in UniLodge to Japanese property developer Samty.