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A judge has ordered the winding up of M101 Nominees, the issuer of $67 million in notes promoted by James Mawhinney’s failed Mayfair 101, which is alleged to owe investors over $211 million.
Woolworths to pay $44.5M to settle shareholder class action
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A $100 million shareholder class action against supermarket giant Woolworths has settled for $44.5 million, a few days before a 15-day trial was set to begin.
High Court set to deliver judgment in Westpac’s appeal of personal advice ruling
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The High Court will hand down its ruling Wednesday in a high-stakes case between ASIC and Westpac that is expected to clarify the line between personal and general financial advice.
ASIC chair James Shipton to step down despite being cleared in relocation expenses review
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ASIC chair James Shipton will step down from his role despite being cleared by an independent review into $118,000 in payments related to his relocation from the US in 2018.
AMA Group to fight court injunction granted to ‘intolerable’ CEO accused of fraud
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Automotive firm AMA Group will seek to discharge an injunction preventing it from dismissing a CEO who has been accused of defrauding the company of “hundreds of thousands of dollars” and damaging its reputation with major partners.
Judge slams year-long delay in $80M case against CFMEU over robo-terminal blockade
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A judge has hit a Port Melbourne container terminal with costs for wasting time in a $80 million lawsuit against the CFMEU over picketing at the world’s first fully automated container terminal, finding the company’s explanations for the delay, including that COVID-19 had slowed it down, were “inconsistent” and “odd”.
ACCC takes another swipe at Google with report on ad tech dominance
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Google is looming large over the advertising technology world, the ACCC says in a new report highlighting growing concerns the global tech giant’s “unrivalled” ability to preference its own technology could affect competition.
Quintis insurers may have to cough up extra $11.25M in class action settlement
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A lawsuit seeking to increase D&O insurance for sandalwood producer Quintis in the wake of a class action settlement has fallen short of the $40 million in additional coverage sought, but a Federal Court decision may see a further $11.25 million go to group members.
Dr Reddy’s alleges VC firm made false claims in head lice lotion deal talks
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Multinational pharmaceutical company Dr Reddy’s has launched a lawsuit against a Melbourne biotechnology company’s directors as well as venture capital firm OneVentures, alleging they sold it dodgy lice treatment which was forecasted to make over US$100 million.
Law firm, barrister face negligence trial over client’s loss in $24.5M property spat
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A Melbourne law firm and barrister will soon face trial over allegations of breach of fiduciary duty brought by a former client who lost a lawsuit over a $24.5 million property joint venture.