Irish insurer Zurich Insurance has appealed a judge’s finding that a class action filed against it in the NSW Supreme Court over a defective New Zealand apartment block could go ahead, arguing the finding was the result of federal overreach.
The competition regulator has been probing alleged cartel conduct by steel giant Bluescope for a number of years, counsel for the company told a court Friday as it sought transcripts of the watchdog’s compulsory interviews of witnesses and asked for five months to put on a defence.
Prosecutors will not lay charges against BlueScope Steel over an alleged price-fixing conspiracy, but its former general manager of sales faces possible jail time after being charged with obstructing the ACCC’s investigation.
Prosecutors are weighing criminal charges over alleged cartel conduct the subject of a price-fixing case by the ACCC against BlueScope Steel and former general manager of sales Jason Ellis, a judge has revealed in rejecting a bid by the competition watchdog to suppress details of its case.
The Australian Securities and Investments Commission is seeking evidence from US proceedings in its case against Rio Tinto alleging the mining giant misled shareholders about a Mozambique mining company purchased for US$4.2 billion.
A top-tier Australian law firm has been ordered to pay more than half a million dollars in damages for professional negligence, after its billionaire client alleged losses of almost $US37 million following a “critical omission” in legal advice.