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ANZ has agreed to pay $240 million in penalties to resolve four separate cases by the corporate regulator, including a record $80 million penalty for unconscionable conduct in its dealings with the federal government.
CityLink can’t void toll roaming pacts with ConnectEast after $36M loss
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CityLink has lost a bid to void toll roaming agreements with ConnectEast after it was ordered to repay $36 million in overcharged roaming fees, with a judge rejecting its arguments as contrary to City Link-specific legislation.
Abu Dhabi National Oil drops $30B takeover bid for Santos
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A consortium led by the investment arm of Abu Dhabi’s National Oil Company has dropped a $30 billion takeover bid for oil giant Santos.
Company loses bid for $6M in compensation for Sydney Metro’s compulsory acquisition
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The owner of a dental practice compulsorily acquired by Sydney Metro for the Metro West project has lost a bid for $6 million in compensation, with a judge rejecting its claim for ‘special value’ in the land.
Developer must produce noise reports in nuisance suit over $284M wind farm
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The developer of the Berrybank wind farm must produce expert communications in a lawsuit over noise emissions from its turbines, but can shield documents pointing to any defects.
$1.1B promised by Albanese government to back cleaner fuel projects
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As a new report warns of the devastation to Australia of ignoring climate change, the Albanese government has vowed to invest over $1 billion to support more sustainable fuel options.
AMP to pay $120M to settle superannuation class action
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AMP has agreed to pay $120 million to settle a class action stemming from the banking royal commission which accused it of overcharging millions of superannuation members over a 12-year period.
ASX accused of sacking head of trading tech after CHESS complaints
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A former head of trading technology at the ASX has filed a lawsuit claiming he was axed after he raised concerns about insufficient resources to operate the market properly, including in relation to the exchange’s CHESS replacement project.
Union drags ANZ to Fair Work Commission over mass layoffs
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The Finance Sector Union has accused ANZ of being a “bank in crisis”, launching a case in the Fair Work Commission over its handling of mass job cuts.
Man sentenced for insider trading in relation to $776M Westfarmers deal
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A Melbourne man has been sentenced to 18 months imprisonment after pleading guilty to trading while in possession of inside information in advance of Westfarmers’ $776 million acquisition of lithium company Kidman Resources in 2019.