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Victoria’s State Electricity Commission had paid $650 million for the Delburn wind farm in Gippsland, which is set to power more than 130,000 homes by 2028.
Owners corporation loses bid to set aside Mercon DOCA
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A judge has refused to set aside a deed of company arrangement passed by creditors of construction company Mercon, finding that the owners corporation of a 33-unit development has not proved the value of its $4.2 million claim.
Blockchain mining firm NGS wound up for ‘blatant’ contraventions
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A court has ordered the winding up of blockchain mining firm NGS Group and related companies, finding they operated in “blatant” violation of the Corporations Act.
Macquarie agrees to pay $35M penalty in ASIC’s first short-sale reporting case
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Macquarie Securities has agreed to pay a $35 million penalty in a civil suit brought by the Australian Securities and Investments Commission alleging systemic misreporting of short sales over a 14-year period.
ANZ cops $250M penalty, judge tacks on $10M for ‘inexcusable’ bond conduct
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A judge has ordered ANZ to pay $250 million in penalties in four cases by ASIC – $10 million more than the bank had agreed to pay – saying ANZ had “substantially deceived” the government by overstating bond trading volumes.
TechnologyOne wins dismissal of long-running suit by former exec
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After a years-long legal battle, a judge has thrown out an unfair dismissal suit by a former TechnologyOne executive, finding he was lawfully terminated for failing to adapt to the company’s management structure.
WiseTech finds Richard White did not inappropriately use company funds
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A WiseTech investigation into billionaire chair Richard White has found no evidence that he misused company funds in his personal relationships with two women, including to pay for an employee’s plastic surgery.
Visual impacts on Sydney Harbour too high, court says in rejecting marina extension
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A proposal to expand Sydney Harbour’s Woolwich Marina has been knocked back, with a judge finding the development would obstruct views of heritage listed areas.
Homes Victoria did not overstep with decision on public housing demolition: court
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An appeals court has rejected a class action’s challenge to a finding that Homes Victoria had a legitimate purpose in deciding to demolish and redevelop public housing towers in Melbourne, despite “lamentable” lack of consultation.
Australian Retirement Trust invests in Mirvac’s build-to-rent fund
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Superannuation fund Australian Retirement Trust has acquired a 48.5 per cent interest in Mirvac’s $1.7 billion build-to-rent fund.