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The Australian Competition and Consumer Commission has dropped its claims of collusion against rail freight companies Pacific National and Aurizon, as the trial in its competition case wraps up this week.
Majority shareholders in MWL Financial have won court approval to bring a derivative suit against US-based Focus Financial Partners over an acquisition gone sour.
Pacific National would not misuse its market power after taking control of an important rail terminal in Brisbane because that would be "irrational", the Federal Court heard Monday at the start of a two-week trial in the competition watchdog's case alleging the rail giant colluded with competitor Aurizon to become the dominant operator of key freight corridors.
Liquidators for the collapsed Hastie Group will pursue test cases against two construction companies in their legal fight against more than two dozen major builders over tens of millions of dollars in unpaid bills, but an application is looming to halt the proceedings pending the outcome of a High Court challenge.