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‘Loose with the truth’ broker wins High Court challenge to ASIC ban
The High Court has upheld an appeal by a mortgage broker with a history of run-ins with the law, finding that the Administrative Appeals Tribunal could not take spent convictions into account when reviewing ASIC ban orders.
Lachlan Murdoch’s Nova wins fight with Huawei over Aussie trade mark
IP Australia has rejected an application by Huawei Technologies to register the trade mark Nova after a challenge by radio giant Nova Entertainment, with a delegate finding the Chinese telecommunications company had failed to prove its intention to use the mark.
Ex-Babcock & Brown execs dodge case over botched $1.4B acquisition
A court has dismissed a long-running case against defunct Babcock & Brown executives by a private investment fund over a botched $1.4B acquisition of the biggest laundry equipment provider in the US, saying the executives did not breach their duties by failing to disclose that the bank underwriting the deal allegedly wanted out.
Court tosses Ponzi scheme investor’s $75M claim against liquidator Grant Thornton
A court has thrown out a $75 million compensation claim filed by an investor in a Ponzi scheme alleging liquidator Grant Thornton Australia and its lawyers Colin Biggers & Paisley failed to return his funds expeditiously.
APRA ordered to hand over ASIC chats about IOOF exec
APRA has been ordered to hand over all of its correspondence with fellow regulator ASIC relating to former IOOF chairman George Venardos, as he prepares to argue privilege over discovery that might incriminate him in any possible ASIC proceedings.
$6M class action settlement is one claim under insurance policy, Bank of Queensland says
The Bank of Queensland has criticised a judgment which found the bank's insurance policy left it on the hook for a $6 million settlement of a class action brought by investors in a multi-million dollar Ponzi scheme by jailed fraudster Bradley Sherwin.
Viva Energy can’t block arbitration in oil tanker dispute, judge says
A judge has sent a dispute between oil giant Viva Energy and a Panama-based oil transporter over petroleum allegedly contaminated during transport into arbitration.
Queensland Sugar in sweet victory as Wilmar negligence case dismissed
Industry-owned Queensland Sugar Limited has succeeded in dismissing a court case brought by Wilmar Sugar Australia after record-high rainfalls led to a $60.8 million loss in 2010.
Arnold Thomas & Becker loses bid for quick dismissal of ex-client’s lawsuit
A self-represented former client of personal injury firm Arnold Thomas & Becker has successfully blocked an application for summary judgment in a dispute that alleges the firm advised him to accept settlement of his workplace sexual assault case so they could receive their costs.
Sims Metal hits back at class action, says group members responsible for losses
Recycling company Sims Metal Management has responded to a shareholder class action ahead of a hearing on Tuesday, denying it breached its continuous disclosure obligations and partially placing the blame for any losses at the feet of group members.