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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.
ACCC to probe Apple Pay restrictions on banks
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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.
Hancock Prospecting loses bid for expanded trial in Rinehart family feud
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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.
ACCC says Qantas, Japan Airlines alliance could cause prices to soar
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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.
Halifax investors file Full Court appeal to boost recovery
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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.
WiseTech accused in freight forwarder’s lawsuit of misusing market power
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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.
PwC partner kept on JBS brief to maintain privilege despite CFO’s unhappiness
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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.
Sacked lawyer told to settle or face complaint to legal watchdog, court hears
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A law firm may have exerted unfair or illegitimate pressure on a sacked solicitor when it told her to accept an offer to settle her adverse action case or risk referral to the legal watchdog, a judge has found.
Lloyd’s denies ‘incomprehensible’ claims in COVID-19 business interruption class action
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Insurance giant Lloyd’s has rejected what it calls an “incomprehensible” class action pleading by Australian businesses that argue its business interruption policies should have indemnified them for losses stemming from COVID-19 lockdowns.
Hog’s Breath Cafe says franchisees behind class action ‘crying poor’ to avoid security
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Franchisees of Hog’s Breath Cafe restaurant chain have been accused of “crying poor” by claiming COVID-19 robbed their restaurants of the cash flow required to pay security for costs in a class action launched against master franchisor HBCA.