Australia’s merger review regime is “outdated” and in need of an overhaul, according to the Australian Competition and Consumer Commission, which says companies must explain why their acquisitions should get the all-clear.
A professor from Texas has no business offering an opinion on the meaning of One Nation senator Pauline Hanson’s exhortation to the Greens party deputy leader that she “piss off back to Pakistan”, a court has heard.
The former managing director of property developer Ralan Group has been sentenced to four years immediate imprisonment after pleading guilty to six fraud offences over loans the defunct group took out to fund several projects in Sydney.
Ashurst has bolstered its Sydney real estate practice with the appointment of a new partner, who joins from King & Wood Mallesons.
SkyCity has reached an agreement with AUSTRAC in proceedings alleging it allowed $4 billion in suspicious transactions, setting aside $73 million to cover penalty and costs.
The top judge in NSW has called for more court resources and funding to ease the burden of an overworked judiciary, in an impassioned speech backed by the state’s solicitors and barristers.
A judge has signed off on a bill that brings the total settlement administration costs in a class action against Johnson & Johnson unit De Puy to over $13 million, amid a push by some judges to open the settlement administration gig up to competition.
Still in the dark about insurance coverage and seeking to stem the flow of cash, two class actions against Heritage Care and St Basil’s over COVID-19 outbreaks have been shelved pending the outcome of criminal cases against the Victorian aged care providers, in a decision the judge said “wouldn’t gladden the hearts of group members”.
Construction giant Boral has lost its bid to block a class action from running a ‘novel’ argument that shareholders suffered loss because of natural fluctuations in share price, rather than as a direct result of alleged continuous disclosure breaches.
Russia’s largest aluminium producer UC Rusal has lost a breach of contract lawsuit brought against six Rio Tinto companies after they refused to deliver alumina under a joint venture agreement on the basis that doing so would cause them to run afoul of export sanctions imposed after Russia invaded Ukraine.
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