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Fitch Ratings has lost its bid for summary dismissal of claims in a class action over allegedly rosy ratings for risky derivative financial products issued 17 years ago on the basis that they are time-barred.
Developer Mayfield loses appeal in competition case over NSW Ports deal
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An appeals court has dismissed a competition case by Mayfield Development against NSW Ports over agreements to privatise two ports, finding that derivative Crown immunity applied to the port authority.
ATO, PepsiCo face off in High Court fight over royalty withholding tax
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Payments by bottler Schweppes Australia to US drink giant PepsiCo should be assessed as royalty income under tax law, the ATO has told the High Court in a high-stakes case.
GM moves to strike out class action’s ‘circular’ pleading
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A judge has said he is satisfied that GM’s concerns about a class action’s “circular” explanation of alleged design flaws in certain Holden vehicles are “not trivial”.
Maurice Blackburn reaches pay deal with unionised employees
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Maurice Blackburn has reached a pay deal with unionised staff after a heated year-long standoff, which included staff being locked out of work last month.
Joint venture inked for Australia’s first renewable energy zone
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Acciona, Cobra and Endeavour Energy have been appointed to design and operate the Central-West Orana Renewable Energy Zone in NSW.
BP taken to court by partner on Australian Renewable Energy Hub
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BP has been taken to court by its joint venture partner on one of the world’s largest renewable energy projects, situated in the Pilbara region.
Owners of lux waterfront Northbridge home can’t dodge invoices by builder
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The owners of a luxury property in Sydney’s Northbridge owe the home’s high-end builder payment of oustanding invoices, after a judge rejected as “absurd” the couple’s construction of a special condition in their contract.
AIA hits architect, builder with cross-claims in cladding class action
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Insurer AIA, fresh off losing a bid to be severed from a class action over alleged combustible cladding installed in two high-rise towers in a Sydney suburb, has lobbed cross-claims at the towers’ architect and builder.
Clarke Energy can’t set aside $8.7M arbitration win for Territory Generation
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Power plant engineer Clarke Energy has lost a challenge to an arbitration win for NT energy provider Territory Generation for delays in construction work on two Alice Spring power facilities.