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AUSTRAC has launched an investigation into Bendigo and Adelaide Bank’s compliance with anti-money laundering laws, as APRA directs the bank to hold a capital add-on of $50 million.
Optus Triple Zero outage review finds ‘at least ten mistakes’
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An investigation commissioned by Optus into its fatal Triple Zero outage in September has found “at least 10 mistakes” made by the telco’s personnel and contractor Nokia, which was upgrading the network at the time.
Netwealth admits First Guardian failures in ASIC case, will pay $100M
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Super trustee Netwealth has agreed to return over $100 million to members who invested their retirement savings in the First Guardian Master Fund, in the latest action by the corporate regulator over the failed fund.
ACCC opposes Yamaha’s bid to acquire boat maker Telwater
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The ACCC has opposed Yamaha Motor’s proposed acquisition of aluminium trailer boat maker Telwater, saying it would result in the substantial lessening of competition in the wholesale supply of outboard motors.
Insurers lose bid to join MTR, UGL to case over Northwest Rail Link
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A group of insurers can’t join Northwest Rail Link joint venture partners MTR and UGL to a suit by CPB Contractors and John Holland over a $100 million policy, with a judge saying the joint venture’s interests in the case are commercial rather than legal.
Falcon Capital liquidators bring case against property developer over $46M loan
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The liquidators of Falcon Capital, which is suspected of having misused $450 million in investor funds, have sued a Melbourne property developer, claiming he knowingly assisted Falcon to loan millions in trust money in a “dishonest and fraudulent design”.
Developer Point Bay wins judge’s recusal from Global Capital case
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A judge has recused herself from a case by liquidators for real estate investment firm Global Capital Property Fund against Point Bay Developments, after hearing the corporate regulator’s application to wind up the fund.
ACCC approves Coles supermarket lease acquisitions after divestment
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The ACCC has given Coles the green light to acquire two leasehold interests to launch new supermarkets in Melbourne’s rapidly developing west after the supermarket giant agreed to divest its ownership and interest in its Kororoit Town Centre site.
The Australian says claim JLL exec sexually harassed junior at strip club is true
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The publisher of The Australian has hit back at a defamation case by a former JLL executive, saying it was substantially true that he fondled a drunk junior female colleague’s breast at a strip club.
Solicitor-General appointed to Victorian appeals court
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Solicitor-General Stephen Donaghue KC has been appointed to sit on the Victorian Court of Appeal, after nine years as the Commonwealth’s second law officer.