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Funder backing multiple cases against Deloitte can’t access docs in Noumi class action
Accounting 2022-07-25 11:35 pm By Sam Matthews
Deloitte has won its bid to keep confidential documents away from the funder backing a consolidated shareholder class against food company Noumi which alleges the auditor was complicit in misleading the market.
PwC partners knew of unlawful dividend payment to Cornerstone director, court told
Accounting 2022-07-22 9:55 pm By Cindy Cameronne Sydney
PwC partners are facing "very serious" allegations that they had actual knowledge that a $30 million dividend payment to the director of now defunct tertiary education provider Cornerstone was unlawful.
ATO takes aim at ‘reckless’ legal professional privilege claims
Business of Law 2022-06-22 10:25 pm By Cat Fredenburgh Melbourne
The Australian Taxation Office has finalised its protocol for dealing with claims of legal professional privilege, developed in response to large companies asserting "reckless" privilege claims which the ATO says obstruct its investigations.
PwC sued over advice on $88M sale of Hudson Pacific to Retail Food Group
Accounting 2022-05-12 5:59 pm By Cat Fredenburgh Melbourne
The founder of wholesale food company Hudson Pacific has sued PricewaterhouseCoopers for allegedly providing bad advice on the terms of the $88 million sale of his business to Retail Food Group in 2016.
TerraCom continues fight to keep PwC report from ASIC investigators
Appeals 2022-04-08 5:06 pm By Miklos Bolza Sydney
Coal mining firm TerraCom has taken its bid to shield a PricewaterhouseCoopers report from ASIC to the Full Court, appealing a judgment which found the regulator could view the report because of public statements made by the company.
PwC can’t ‘rout’ documents through ‘postbox’ lawyer to secure privilege, court finds
Accounting 2022-04-06 5:52 pm By Miklos Bolza Sydney
Advice from non-lawyers and "routed" through a legal practitioner at multidisciplinary partnership PricewaterhouseCoopers cannot be shielded under legal professional privilege, the Federal Court has found.
PwC can’t claim privilege over all advice to JBS, judge finds
Accounting 2022-03-25 10:57 am By Miklos Bolza Sydney
A judge has rejected the Australian Taxation Office's claim that legal professional privilege does not apply to any communications between PricewaterhouseCoopers and its client, meat processor JBS, but has found that many of the reviewed documents do not satisfy the test of privilege.
TerraCom can’t keep PwC report from ASIC investigators
Accounting 2022-03-11 10:14 pm By Christine Caulfield Melbourne
Mining company TerraCom has lost a case seeking to shield a report by PricewaterhouseCoopers from the Australian Securities and Investments Commission, which is investigating claims current and former executives falsified coal quality results.
Dixon Advisory files for administration, blaming class actions
ASIC 2022-01-19 10:40 am By Cat Fredenburgh Melbourne
Embattled wealth advisor Dixon Advisory has filed for administration, saying its potential liability in two class actions and a $7.2 million penalty it agreed to pay in ASIC proceedings mean it is likely to become insolvent in the future.
Careers Australia directors face insolvent trading case over $40M dividend
ACCC 2021-12-17 7:03 pm By Cindy Cameronne Sydney
The liquidator of collapsed vocational education provider Careers Australia has filed a lawsuit against the company’s former directors, including founding CEO of Optus Robert Mansfield, seeking damages for alleged insolvent trading and breach of directors’ duties over a $40 million dividend the company allegedly could not afford.