ASIC has questions about the “bona fides” of a rental company’s appeal of a $7.4 million penalty for unlawful loan agreements, telling a court it needs to see evidence about the “very rapid decline” of the company’s financial position.
Swiss-based investment firm Partners Group has exited the Australian wind market, selling its stake in a 242-megawatt wind farm in Victoria to Spanish energy company Iberdrola.
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.
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.
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 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.
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.
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.
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.
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.
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