Ernst & Young

Investment firm London City Equities has secured court approval to bring an expanded case against accounting giant Ernst & Young over its auditing of collapsed soda ash maker Penrice.

Defence shipbuilder Austal faces legal action by the corporate regulator challenging claims of privilege over documents sought as part of a probe into disclosures linked to cost overruns on the company’s $4 billion US Navy ship-building program.

Shareholders of troubled sandalwood producer Quintis who are eligible group members in two consolidated class actions against the company can bet on which of the two cases will give them the best returns, if any, and the Federal Court has appointed an independent lawyer to help them make the choice.