Please login to bookmark Close
The Australian Competition Tribunal has shot down ACCC moves to restrict the use of buy now, pay later finance for the purchase of solar goods and other new energy technology products.
ACCC calls for $3.5M penalty for Oscar Wylee’s ‘brazen’ charity misrepresentations
Please login to bookmark Close
The ACCC has asked a court to impose a $3.5 million penalty against eyewear retailer Oscar Wylee for making misleading representations about its charitable donations and affiliations, including that it would donate one pair of eyeglasses to charity for every pair purchased.
Mayfair director slams ‘erroneous’ Deloitte report in ASIC winding up case
Please login to bookmark Close
The director of besieged investment group Mayfair 101 has called for an investigation into the Australian Securities and Investments Commission, calling a winding up proceeding brought by the financial watchdog “a form of malicious prosecution” based on a “flawed fundamental misunderstanding” and supported by an erroneous report from auditor Deloitte.
Banksia judge orders Alex Elliott to reveal financial interests in father’s companies
Please login to bookmark Close
Alex Elliott, the son of former Banksia Securities class action lawyer Mark Elliott, must hand over documents revealing his financial interests in his father’s litigation funding company and law firm, after the judge overseeing professional misconduct claims against lawyers in the class action rejected his claims that the discovery was a fishing expedition.
Nthalmic directors accused of misusing confidential information in lens patent applications
Please login to bookmark Close
Sydney-based research foundation Brien Holden Vision Institute has filed a lawsuit alleging three senior researchers misused confidential information when they jumped ship to a rival research group and filed applications to patent seven inventions for opthalmic lenses designed to treat myopia allegedly based on that information.
GetSwift agrees to notify class of asset transfer outside of Australia
Please login to bookmark Close
GetSwift has promised the Federal Court that it will inform the lead applicant in a shareholder class action if any of its assets are to be transferred outside of Australia, after the applicant raised concerns about the logistics company’s proposed relocation to Canada.
GMA Garnet to pay $23M to settle mineral sands dispute with mining company
Please login to bookmark Close
Australian mining company Mineral Commodities has settled its contractual dispute with international garnet supplier GMA Garnet, which has agreed to pay around $23 million and purchase almost one million tonnes of mineral sands.
Ernst & Young faces $12M damages claim over collapse of soda ash maker Penrice
Please login to bookmark Close
Ernst & Young is facing a claim for $12 million damages in a lawsuit over its auditing of collapsed soda ash maker Penrice.
New rules for funders of insolvency claims: Business as usual for some, not for all
Please login to bookmark Close
Recent changes in the Australian regulation of third-party funders will have a dramatic effect on the funding of certain disputes. Although these changes were accompanied by Government and industry commentary that they would not affect litigation funding for insolvency-related claims, this may not be the case for all insolvency funding arrangements, writes Lina Kolomoitseva of funder Litigation Capital Management.
Grocon must pay security to pursue $270M lawsuit over Barangaroo development
Please login to bookmark Close
Australian construction company Grocon has been ordered to pay $1 million in security for costs to continue its pursuit of a $270 million lawsuit against Infrastructure NSW over the development of Central Barangaroo, despite claiming it’s financials have taken a hit from the pandemic.