National Australia Bank says employees suing the company for years of alleged unpaid overtime have failed to prove the work asked of them was unreasonable, in response to a test case that could affect up to 10,000 staff.
Japanese oil company Inpex has lost its bid for a split trial in a dispute with insurers AIG Australia and Mitsui Sumitomo over coverage for litigation related to defects at the $45 billion Ichthys liquified natural gas project in the Northern Territory.
White shoe firm White & Case has lured a partner from Norton Rose Fulbright to beef up its competition capabilities in Australia.
A judge has ordered Australian telecommunications companies Jabiru Satellite and NewSat to pay $1 million in security for costs in a lawsuit against eight major banks alleging they wrongfully withdrew financial support for Australia’s first independently owned satellite.
Clive Palmer’s mining company Mineralogy has lost a bid to stay an expert determination process in a royalties dispute with Adani, with a judge ruling that the court should not “lightly disregard” decisions to resolve disputes by expert determination rather than court-based litigation.
NewSat investor Rockgold Holdings has lost its bid to appoint a special purpose liquidator to run a lawsuit against eight major banks after a judge found its proposed 70 per cent funding fee “wholly disproportionate”.
Five major banks including JPMorgan, Citibank and UBS have denied all wrongdoing in a class action accusing them of entering a cartel agreement to rig foreign exchange rates and argue the claims were brought out of time or are barred by settlements in overseas proceedings.
The Australian Securities and Investments Commission has dropped all but one claim against Rio Tinto in a four-year-long case over disclosures related to its troubled $5.8 billion acquisition of a Mozambique coal mining business and abandoned all claims against the mining giant’s former CEO and CFO.
Rio Tinto will face a penalty in proceedings brought by the Australian Securities and Investments Commission alleging the mining giant misled shareholders about the resources of a Mozambique mining company it acquired for $5.8 billion in 2011 and later offloaded for $70 million.
Japanese oil and gas producer INPEX and contractor JKC Australia have settled all claims between them relating to the construction of the $45 billion of Ichthys LNG project.