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A settlement in a shareholder class action against GetSwift has collapsed as the logistics company seeks to secure financing to keep it afloat and pay the final portion of the deal’s $1.5 million cash component.
Viterra to pay $168.9M for misleading Cargill during Joe White sale
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Grain producer Viterra will be ordered to pay Cargill Australia $168.9 million after a judge found the Glencore-owned company misrepresented the performance capabilities of malt producer Joe White when it sold the company for $420 million in 2013.
Aware Finance cops $20M penalty in ASIC fees for no service action
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Aware Finance, formerly StatePlus, has been fined $20 million for charging over 25,000 customers approximately $50 million for services they did not receive.
Law firm accused of giving bad tax advice on $3B Wyndham Vale development
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Melbourne farmers-turned-developers the Bozzo family have sued a national law firm for allegedly giving bad tax advice on the $3 billion Wyndham Vale development in Melbourne’s west, situated on 482 hectares of land the family purchased in 1994.
Bell Potter targeted in AUSTRAC probe over anti-money laundering compliance
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Financial crimes watchdog AUSTRAC is investigating whether three companies in the Bell Financial Group have contravened anti-money laundering and counter-terrorism financing rules.
ACCC faces tough questions in appeal of NSW Ports competition case
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An appeals court grilled counsel for the ACCC on the first day of a hearing challenging the dismissal of its case over a NSW government deal to privatise two ports, calling on the lawyer to spell out how the state was alleged to be in competition with the consortium that took over the ports.
Music festival organiser appeals ruling denying coverage for $3.2M COVID-related cancellation
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The organiser of the Big Red Bash outback music festival has appealed a judgment denying it coverage for $3.2 million cancellation of the festival during the first wave of the coronavirus pandemic
Insurer has second crack at dodging doctor’s class action defence costs
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Avant Insurance has challenged a Federal Court judge’s interpretation of the Insurance Contracts Act in its second attempt to avoid liability for the defence costs of a plastic surgeon named in a class action brought over botched breast augmentations.
Zoetis’ takeover bid for Jurox raises competition concerns
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The Australian Competition and Consumer Commission has raised concerns about a proposed takeover of NSW-based pet drug maker Jurox by US animal health giant Zoetis.
High Court says class action shareholders can quiz directors of failed companies
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In a boost to securities class actions, the High Court has ruled that directors of collapsed companies can be subjected to public examination by shareholders wanting to bring civil proceedings.