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Reforms to Australia’s merger review regime kicked in on 1 January, but late-breaking amendments to the new laws mean changes to notification thresholds and further exemptions.
WiseTech to sell off Expedient Software amid ACCC concerns
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WiseTech has agreed to divest logistics software company Expedient, which the ACCC said the Richard White-founded company acquired before the regulator had completed its competition review.
Australian Unity hit with $7M penalty for failing to properly vet investors
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A judge has ordered Australian Unity to pay a $7.1 million penalty in ASIC proceedings alleging it pumped more than $9.5 million into a risky mortgage scheme without properly vetting investors.
Arnold Bloch Leibler won’t be kicked off dispute over property exec’s estate
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A court has found that two of the three heirs to the owners of property investor Kurtz Group can continue to use the services of Arnold Bloch Leibler, finding no risk of conflict.
ASIC sues BDO, director over audit reports for Dubber
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The corporate cop has sued BDO Audit and director Dean Just in the Federal Court over alleged false and misleading reports it made for ASX-listed software company Dubber.
Binance agrees to $10M penalty in ASIC case, but judge wants more info
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Binance has agreed to a $10 million penalty in ASIC’s case alleging the defunct crypto firm misclassified retail customers as eligible to invest in risky derivatives, but a judge wants more details before approving the deal.
APRA hits super trustee Diversa with additional licence conditions
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Fresh off being sued by ASIC for investing $300 million into Falcon Capital’s failed First Guardian Master Fund, super trustee Diversa has been hit with additional licence conditions by the prudential regulator.
NCAT won’t terminate organic dairy farm lease over alleged deterioration
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A tribunal has refused to terminate a lease for a dairy farm in Raleigh, NSW and declined to order $500,000 in compensation over claims the tenants are responsible for deterioration in the property, including the “uncontrolled infestation” of a noxious weed.
HM Capital’s 105-turbine wind farm approved despite environmental concerns
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Victoria’s state government has approved the development of a new wind farm on the fringes of protected wetlands and a national park.
Architects selected for Brisbane Olympic stadium
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Australian architecture firms Cox and Hassell will team up with Japanese firm Azusa Sekkei to design a new stadium for the 2032 Olympic and Paralympic Games.