A Federal Court judge has taken a swipe at new regulations that require class action funding arrangements to be registered as managed investment schemes, saying it was difficult to reconcile the new rules with the class action regime.
Assessing claims of privilege involving multidisciplinary firms like PricewaterhouseCoopers that offer legal and accounting services is “inherently awkward”, a court heard on the final day of a hearing in a privilege battle between the accounting firm and the ATO.
Chinese lender Aoyin must pay PricewaterhouseCoopers’ legal costs for a vacated trial after Aoyin’s eleventh hour decision to join Baker McKenzie to a $10 million cross-claim in a dispute concerning the accounting firm’s advice on its failed bid to launch the first Chinese incorporated bank in Australia.
The NSW Police have commenced an investigation into Forum Finance and director Bill Papas, which have been accused by Westpac, French investment bank Societe Generale and Japanese bank SMBC of a $400 million fraud.
The Australian Competition and Consumer Commission is investigating competition concerns about Apple’s refusal to allow third party access to the near-field communication chip that allows iPhone users to make ‘tap and go’ payments through Apple Pay.
Gina Rinehart’s Hancock Prospecting has failed to persuade a court to hold an expanded separate trial on the alleged wrongdoing of the mining magnate in a spat over the Hope Downs iron ore mine, with a judge finding the proposal could extend the already ten-year legal battle.
A proposed alliance between Qantas and Japan Airlines has failed to take flight after the Australian Competition and Consumer Commission said the coordination of flights between Australia, New Zealand and Japan could cause ticket prices to soar.
Approximately 1,000 investors of collapsed stockbroker Halifax Investment Services have challenged a court decision concerning the date of the realisation of their investments which decreased the amounts they could recoup from the company’s liquidation.
Freight forwarding company Mondiale has filed a lawsuit against Wisetech Global alleging the logistics software firm breached competition law by misusing its substantial market power.
A PwC partner who the ATO claims was assigned to work on a matter for meat processing company JBS to bring a “cloak of legal privilege” kept a supporting role on the brief despite the company CFO’s dissatisfaction, a court has heard.
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