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Forum Finance director says Westpac’s case against him ‘hopelessly weak’
Allens 2021-11-12 12:25 pm By Christine Caulfield Melbourne
Forum Finance director Vincenzo Tesoriero wants to strike out Westpac's claims against him and has told a court he too is a victim of alleged fraudster Bill Papas, having sunk up to $9 million in the company.
High Court shoots down Volkswagen’s challenge to landmark $125M dieselgate penalty
ACCC 2021-11-12 12:31 pm By Miklos Bolza Sydney
The High Court has rejected Volkswagen's special leave application to challenge a record $125 million penalty for selling cars with a defeat device that allowed them to cheat on emissions tests.
ASIC hits Griffin Coal with criminal charges over financial reports
ASIC 2021-11-12 8:53 pm By Cindy Cameronne Sydney
The Australian Securities and Investments Commission has hit beleaguered mining firm Griffin Coal with criminal charges over its alleged failure to lodge annual financial reports for 2019 and 2020.
Pitcher Partners, EY point finger at Slater & Gordon’s lawyers in class action trial
Andrew Roe 2021-11-11 9:45 pm By Cindy Cameronne Sydney
Accounting firms Pitcher Partners and Ernst & Young have blamed the lawyers who advised on Slater & Gordon’s disastrous $1.2 Quindell acquisition for the its massive losses in 2016, saying they failed to point out the “commercial misjudgment” of agreeing to the deal.
NT hit with class action over ‘discriminatory’ healthcare services
Class Actions 2021-11-11 5:05 pm By Miklos Bolza Sydney
The Northern Territory government has been hit with a class action alleging it discriminated against Indigenous Australians in Wadeye by failing to provide proper healthcare services.
Court orders CBA to hand over oil and gas project books in climate change case
Alice Zheng 2021-11-11 5:23 pm By Miklos Bolza Sydney
The Commonwealth Bank of Australia will have to hand over a preliminary tranche of documents relating to seven large-scale oil and gas projects it is financing in a lawsuit that will test whether the bank has complied with its stated commitments on climate change.
GetSwift mulls appeal of scathing judgment on ‘PR-driven’ approach to ASX statements
Alan Shearer 2021-11-11 5:51 pm By Cat Fredenburgh Melbourne
Logistics company GetSwift says it is considering an appeal of an 859-page judgment which lambasted the company and its directors' "public relations-driven approach" to announcements on the Australian Stock Exchange.
WA Premier engaged in ‘disgraceful and dishonourable’ conduct, Clive Palmer tells defamation judge
Carmel Galati 2021-11-11 3:16 pm By Miklos Bolza Sydney
The court has given the green light to an amended defamation defence by Clive Palmer which accuses Western Australia Premier Mark McGowan of "disgraceful and dishonourable conduct" and abusing his position by hastily and secretly enacting legislation that barred the billionaire mining magnate from suing the state for $30 billion.
GetSwift breached law through ‘public relations-driven approach’ to ASX statements, court finds
Alan Shearer 2021-11-10 1:46 pm By Miklos Bolza Sydney
The Australian Securities and Investments Commission has scored a victory in its long-running case against GetSwift, with the Federal Court finding the company and its directors breached the Corporations Act and ASIC Act through their "public relations-driven approach" to announcements on the Australian Stock Exchange.
Slater & Gordon shareholders say EY, Pitcher Partners’ audit was ‘superficial’
Andrew Roe 2021-11-10 9:05 pm By Cindy Cameronne Sydney
Accounting firms EY and Pitcher Partners ignored “front page news” that Slater & Gordon’s acquired business Quindell was scrutinised by a UK regulator after reporting a $250 million (£137 million) loss, a court heard on the second day of trial in a class action by the law firm’s shareholders.