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Freezing orders extended against developer James Raptis in $110M tax case
ATO 2021-11-18 11:09 am By Christine Caulfield

A judge has extended asset freezing orders until next year in a $109.5 million case brought by the tax office against Gold Coast property developer James Raptis and his companies.

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ACCC greenlights Meta’s proposed acquisition of Kustomer
ACCC 2021-11-18 6:32 pm By Bianca Hrovat

The Australian Competition and Consumer Commission says Meta’s proposed acquisition of customer relationship management start-up Kustomer is unlikely to have any substantial impact on competition.

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Judge throws out challenge to funding for Queensland energy class action
Adam Hochroth 2021-11-17 10:09 pm By Miklos Bolza

A judge has thrown out a lawsuit that argued the funding for a class action against two Queensland energy generators didn’t comply with new regulations targeting litigation funders, and said a landmark judgment that held class action funding agreements were managed investment schemes was conceptually incoherent and ripe for a Full Court challenge.

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Judge shoots down Colonial First State’s bid for warning in class action opt out notice
Adam Hochroth 2021-11-17 9:29 pm By Bianca Hrovat

A judge has knocked back Colonial First State’s bid to warn around 100,000 group members that even if they opt out of a class action against the wealth management firm they might still be bound by the outcome of the case.

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Christian Porter loses court bid for notes of meeting between silk, accuser’s friend
ABC 2021-11-17 11:17 am By Miklos Bolza

A judge has denied former Attorney-General Christian Porter access to material about a crucial meeting involving Jo Dyer, the friend of a woman who accused him of rape, which he sought to bolster his appeal of the removal of silk Sue Chrysanthou from his now-settled defamation case against the ABC.

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PwC hit with $43M negligence lawsuit by failed VET provider Cornerstone
ACCC 2021-11-17 4:06 pm By Bianca Hrovat

Accounting firm PricewaterhouseCoopers is facing claims of professional negligence by insolvent tertiary education provider Cornerstone for allegedly assisting the company’s former director in overstating the company’s revenue and unlawfully extinguishing his debt.

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AMA Group taken to court over $5.5M smash repair acquisition
Automotive 2021-11-16 5:40 pm By Miklos Bolza

Automotive repair specialist AMA Group has been sued by two Gosford-based smash repair businesses claiming they were not paid enough when they were purchased for $5.5 million in October 2018.

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Ex-Healthe Care exec fined $10,000 for insider trading
ASIC 2021-11-17 12:00 pm By Cat Fredenburgh

A former executive of hospital operator Healthe Care has been sentenced and fined $10,000 after pleading guilty to one charge of insider trading for acquiring a large number of the company’s shares while in possession of inside information regarding plans to acquire a rival hospital operator.

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‘Gentle’ trading in ANZ shares an individual decision by banks, ex-JPMorgan boss says
ACCC 2021-11-16 6:27 pm By Cindy Cameronne

A former JPMorgan managing director has said the three investment banks at the centre of an alleged cartel made individual decisions to trade “gently” in ANZ shares but were conscious of their fellow underwriters’ risks following a botched share placement in 2015.

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ASIC accuses Mayfair’s James Mawhinney of breaching 20-year ban
ASIC 2021-11-16 8:38 am By Christine Caulfield

The Australian Securities and Investments Commission has asked a court to hold Mayfair 101 director James Mawhinney in contempt, saying he has breached a 20-year ban on raising funds.

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