The Australian Securities and Investments Commission has brought court action against Retail Employees Superannuation, alleging the super trustee may have misled members about their ability to move their super out of the REST Trust.
Construction company Clough Limited cannot claim over $15 million paid to employees for cancellation of their shares and options as a tax deduction, with a judge dismissing the Perth-based company’s appeal of a decision from the Commissioner of Taxation.
Trial kicked off Tuesday in a landmark class action brought by teenagers seeking to halt the expansion of a Whitehaven coal mine in NSW, with the barrister for the teens arguing catastrophe was likely if the expansion was blessed by the Federal Minister for the Environment.
Doomed iron and steel giant Arrium attempted to stave off its inevitable $2.8 billion collapse and put off negotiating with its lenders until the last minute despite warnings from its legal and financial advisors, liquidators for the company told the court.
More than half of the $37.75 million settlement reached in a shareholder class action against aged care provider Estia Health will be left for distribution to group members if the settlement is approved at an upcoming hearing.
Dentons has snagged one partner and four lawyers from a Perth law firm to join its recovery and restructuring team, as part of its ambitious 2021 growth strategy.
A former financial planner of IOOF unit RI Advice, who has been accused by ASIC of pocketing hefty commissions from clients steered to risky investments, has abandoned his defence on the second day of trial.
A judge has allowed a hearing on separate questions concerning the validity of a non-compete agreement in a lawsuit brought against two patent lawyers who jumped ship by boutique IP firm Pizzeys Patent and Trade Mark Attorneys, despite expressing concerns that “separate questions are fraught”.
A court has found national delivery company Megasave Couriers misled franchisees with false promises of guaranteed minimum weekly payments and annual income.
A financial adviser at the centre of ASIC’s bad advice case against an IOOF unit might mount an argument that a fair trial is not possible because of his “fulsome” answers to investigators during a compulsory examination.
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