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Maurice Blackburn may get $5.8M in $16.4M Cash Converters settlement
Class Actions 2018-12-10 9:10 pm By Christine Caulfield Melbourne

Maurice Blackburn stands to walk away with $5.8 million for its work on a consumer class action against Cash Converters that resulted in a $16.4 million settlement.

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D’Aquino Bros says it can prove its Scotch Whisky is the real deal
Ed Heerey 2018-12-10 9:01 pm By Christine Caulfield Melbourne

Defending against a fourth trade mark infringement lawsuit by the UK’s Scotch Whisky Association, Australian liquor retailer D’Aquino Bros has told a court all of its Scotch Whisky was distilled in Scotland, and it has the paperwork to prove it.

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IOOF’s Chairman, CEO step down in wake of APRA action
Class Actions 2018-12-10 2:06 pm By Christine Caulfield Melbourne

IOOF’s chairman and CEO are stepping down to defend against a Federal Court action by Australia’s financial regulator seeking to have them, along with three other executives of the embattled wealth manager, disqualified from acting as superannuation trustees.

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ACCC launches competition case against NSW Ports over 50-year deal with state
Competition & Consumer Protection 2018-12-10 10:34 am By Christine Caulfield Melbourne

The competition watchdog is taking NSW Ports to court alleging a 50-year agreement with the state, signed when Port Botany and Port Kembla were privatised five years ago, was anti-competitive.

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IOOF faces action by APRA, potential shareholder lawsuit
Class Actions 2018-12-07 10:51 pm By Christine Caulfield Melbourne

Australia’s financial regulator is seeking to have top executives and directors of IOOF disqualified from acting as superannuation trustees, the watchdog said Friday, as Shine Lawyers revealed it has been investigating a possible class action against the financial services firm for a year.

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Hastie liquidators offer to settle with builders over $124M in unpaid bills
Baker McKenzie 2018-12-07 7:58 pm By Christine Caulfield Melbourne

Hastie Group’s liquidators have offered to drop their $124 million case against two dozen major builders if the companies agree to pay an undisclosed sum toward their unpaid bills, a court heard Friday.

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High Court rejects CFMMEU’s appeal of $306,000 fine
Construction 2018-12-06 11:33 pm By Christine Caulfield Melbourne

The Construction, Forestry, Maritime, Mining and Energy union has lost its bid to be heard by the High Court of Australia after an appeals court upheld a $306,000 fine for the illegal conduct of its former Queensland president and warned of the prospect of deregistration.

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Ex-RBA official Christian Boillot jailed for 2.5 years over bribery scandal
Financial Services 2018-12-06 2:46 pm By Christine Caulfield Melbourne

Former Reserve Bank of Australia official Christian Boillot was sentenced Thursday to a two and a half years’ suspended jail term over his role in a conspiracy to bribe foreign officials to win banknote business.

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Ramsay Health Care’s Nuramel trade mark beats off challenge
Consumer Goods 2018-12-06 1:49 pm By Christine Caulfield Melbourne

Ramsay Health Care has defeated a challenge to its Nuramel trade mark for a brand of infant formula, with IP Australia saying while the mark was an exact anagram of Biofarma’s Munarel, it wasn’t deceptively similar.

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ASIC filing puts spotlight on ANZ treasurer in $2.5B capital raising case
Allens 2018-12-05 10:50 pm By Christine Caulfield Melbourne

ANZ treasurer Rick Moscati was at the centre of a flurry of phone calls and meetings with underwriters and other bank executives on the day the underwriters agreed to pick up a $791 million shortfall in a $2.5 billion capital raising, an agreement which has led to groundbreaking cases by two regulators, according to a new court document.

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