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J Hutchinson, CFMEU fined $1.35M for construction boycott
ACCC 2022-08-30 9:20 pm By Cat Fredenburgh

Builder J Hutchinson and the CFMEU have been fined a combined $1.35 million for entered into an anti-competitive agreement to boycott an independent subcontractor at a construction site in Brisbane.

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Inpex can call on $467M bank guarantee in battle with Daewoo over delayed floating gas facility
Construction 2022-08-30 10:09 pm By Sam Matthews

A judge has ruled that oil company Inpex can call on a $467 million bank guarantee in its contract battle with Korean shipbuilder Daewoo over the contentious Ichthys LNG project off the coast of Western Australia.

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AUSTRAC investigates Perth Mint for financial crimes
AUSTRAC 2022-08-30 9:35 pm By Cat Fredenburgh

AUSTRAC has appointed an external auditor to Perth Mint, Australia’s official bullion mint, to assess its compliance with anti-money laundering and counter-terrorism financing laws.

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‘No real contrition’: ASIC seeks $17.5M penalty against AMP in fees for no service case
AMP 2022-08-29 9:00 pm By Sam Matthews

ASIC has told a judge AMP should face a $17.5 million penalty for deducting $356,000 from customers’ superannuation accounts for advice they never received, saying the wealth manager had shown “no real contrition” for its conduct.

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Pitcher Partners gave bad advice on $2.5M Zap Fitness share buy-back: suit
Accounting 2022-08-29 11:29 pm By Cindy Cameronne

The former owner of fitness franchise Zap Fitness has sued accounting firm Pitcher Partners, claiming it failed to properly advise on a troubled share buy-back scheme that spawned litigation the company paid $4.25 million to settle.

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MobiSuper, ZIB Financial fined $250,000 for ‘misleading’ superannuation marketing
Dean Luxton 2022-08-29 6:16 pm By Sam Matthews

A judge has fined superannuation fund promoter MobiSuper and licensee ZIB Financial $250,000 for misleading marketing calls.

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Mawhinney slammed for taking lawyers’ reputation ‘hostage’ in ASIC appeal
Aaron Weinstock 2022-08-26 11:50 pm By Sam Matthews

The former legal representatives of James Mawhinney have hit back at allegations of incompetence by the embattled Mayfair 101 founder on the last day of his appeal against decisions that saw him banned from soliciting funds or promoting any financial product for 20 years.

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‘Alarming consequences’ if each building warranty breach creates new claim, court says
Construction 2022-08-26 11:27 pm By Sam Matthews

A judge has ruled that separate breaches of statutory building warranties do not create individual causes of action, in a win for an owners corporation bringing claims against the builder of an allegedly defective Haymarket apartment building.

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Inchcape keeps up fight with Chubb over coverage for ransomware attack losses
Appeals 2022-08-26 11:12 pm By Cat Fredenburgh

UK automotive distributor Inchcape has challenged a judgment that put insurer Chubb on the hook for some but not all of the financial losses stemming from a cyberattack that allegedly caused $4 million in loss.

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Cricket Australia plays COVID card in Seven contract dispute
Albert Dinelli 2022-08-25 2:43 pm By Sam Matthews

Cricket Australia says the COVID-19 pandemic was a force majeure event under its broadcast agreement with the Seven Network, which has sued the sporting governing body over alleged breaches of the deal.

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