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The Australian Securities and Investments Commission has been given the green light to pursue a consumer case alleging defunct online retailer Snaffle charged consumers inflated prices.
Counsel fee rate guide ‘hopelessly outdated’, judge says
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A judge has remarked that the counsel fee rate guide is now 13 years out of date and no longer serves its purpose, in a ruling ordering $1.5 million in costs against Golden Eagle Property Group.
Vena Group signs $200M battery storage deal with InCommodities
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Singapore renewables company Vena Group has signed a $200 million long-term battery storage agreement with Danish energy trading company InCommodities for the Bellambi Heights battery energy storage system in central west New South Wales.
Judge OKs invasive testing in $7M row over ‘defective’ Sydney tennis courts
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A judge has allowed an engineer to conduct invasive testing on 16 tennis courts in Western Sydney which a local council claims need to be replaced due to defects.
BGC tells court it ‘can’t keep up’ with burst Iplex pipe repairs
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In a case over alleged faulty plumbing pipes produced by Fletcher Building’s Iplex, BGC told a court Friday it had been overwhelmed by calls for repairs to the 7,000 Perth homes fitted with the pipes.
Rawcorp can’t block recourse to security in fight over $25.5M development
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A developer can have recourse to $740,000 in security following building delays, with a judge finding that its contract with Rawcorp for the construction of a Coolangatta apartment complex created an unfettered right to call on the security.
Forum Finance director banned by ASIC for maximum period
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Forum Finance director Vince Tesoriero has been banned from managing companies for five years due to his involvement in the failure of 20 companies, including Forum, through which he and partner Bill Papas defrauded Westpac out of $400 million.
High Court rejects lender’s second bid for judge’s recusal in ASIC case
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The High Court has dismissed Sunshine Loans’ second attempt to have a judge recuse himself from a penalty hearing in ASIC’s case against the payday lender, despite his criticism of a witness due to give further evidence.
CBA avoids special leave hearing of cross-appeal in High Court cases
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The Commonwealth Bank has avoided a separate hearing over its cross-appeal in shareholder class actions that have reached the High Court.
ACCR appeals dismissal of Santos greenwashing case
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The Australasian Centre for Corporate Responsibility has appealed the dismissal of its greenwashing case alleging Santos misled investors by falsely representing that it had a plausible path to net zero by 2040.