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The consumer regulator has taken a page from ASIC, warning it will take action against businesses that make unsupported environmental or sustainability claims.
Opal Tower engineer must hand over policies, bank records in class action coverage spat
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Opal Tower structural engineer WSP has been ordered to produce all professional indemnity policies covering its work on the defective building in a lawsuit against insurers for builder Icon, despite arguing for the “commercial sensitivity” of the information.
Judge rejects A One Multi receiver’s request for future remuneration
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Two receivers for unlicensed investment scheme A One Multi Services have lost their bid to have 85 per cent of their future remuneration paid out immediately, with a judge agreeing with the corporate regulator that the receivers should not have “what are in effect trust funds”.
Pizzeys resolves client poaching case against lawyers who launched rival firm
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IP firm Pizzeys Patent and Trade Mark Attorneys has dropped a lawsuit accusing two of its former lawyers who left to form a competing boutique of violating non-compete clauses in their employment contracts.
Sacked partner in Lendlease ‘tax dodge’ suit wants Full Court to weigh in on whistleblower laws
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A former Greenwoods & Herbert Smith Freehills partner wants the Full Court to decide whether whistleblower protections apply retrospectively in a $13 million suit alleging he was sacked for complaining about the tax avoidance strategy of construction giant Lendlease.
In loss for ATO, judge rules Liberty Financial schemes were not ‘artificial or contrived’
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A judge has ordered that part of a decision by the Australian Taxation Office over three alleged schemes by Liberty Financial to obtain tax benefits be set aside, rejecting arguments that the corporate group’s operations were “artificial or contrived”.
Judge OKs $1.6M settlement in Romeo’s class actions but slashes law firm’s share
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A judge has signed off on a $1.55 million settlement to resolve two underpayments class actions against supermarket chain Romeo’s, but has reduced the pay out to the law firm running the cases by 25 per cent, saying the firm had “no legal entitlement” to the fees.
Dixon Advisory hit with $7.2M penalty in ASIC case
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A judge has signed off on a $7.2 million penalty against Dixon Advisory after the company admitted to ASIC allegations that its advisors failed to act in its clients’ best interests by recommending they invest in a risky US-based real estate investment fund.
Vero Insurance to argue owners suffered no property damage in cladding class action
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Insurer for cladding manufacturer Fairview Architectural, Vero Insurance, will argue a $190 million policy does not cover claims in a class action alleging combustible cladding caused losses for property owners, a court has heard.
Mylan appeals ATO’s rejection of $48M deduction in spat over $1.2B Alphapharm deal
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The Australian unit of Mylan is challenging the ATO’s rejection of a $48 million deduction for 2020 in the generic drug company’s latest spat with the tax office over interest on loans to fund its $1.2 billion acquisition of generic drug maker Alphapharm.