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Mineralogy appeals ruling tossing suit as ‘ill-disguised’ attack on ASIC
Amy Reid 2021-09-15 4:00 pm By Cat Fredenburgh Melbourne

Clive Palmer’s Mineralogy has appealed a ruling tossing a lawsuit it brought against ASIC, which a judge called an “ill-disguised collateral attack” on the regulator for criminal proceedings against the billionaire mining magnate over $12 million in payments made to his political party in 2013.

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Ex-Vocus chairman charged with insider trading
Telecommunications 2021-09-14 10:08 pm By Cat Fredenburgh Melbourne

Former Vocus chairman Vaughan Bowen has been charged with two counts of insider trading for allegedly offloading 5.6 million company shares while in possession of knowledge that a private equity firm would pull its $3.3 billion takeover offer for the telco.

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NSW Police launch investigation into Forum Finance
Allens 2021-09-13 2:57 pm By Cat Fredenburgh

The NSW Police have commenced an investigation into Forum Finance and director Bill Papas, which have been accused by Westpac, French investment bank Societe Generale and Japanese bank SMBC of a $400 million fraud.

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Lawyer, directors of failed property group Members Alliance face 72 charges
ASIC 2021-09-10 10:55 pm By Sam Matthews Melbourne

An award-winning Gold Coast solicitor and four directors of the Members Alliance and Benchmark group of companies have been charged in connection with the collapse of the property investment group in 2016.

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Forum Finance liquidators win court ok to sell $1.2M luxury yacht
Allens 2021-09-03 9:57 pm By Miklos Bolza Sydney

Liquidators for Forum Finance have won court approval to sell a $1.2 million Mangusta luxury yacht as well as 12 properties owned by various companies within the Forum Group.

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Ex-Deutsche Bank exec looks to knock out cartel charges
ACCC 2021-09-01 11:07 pm By Cat Fredenburgh Melbourne

A former Deutsche Bank executive named in a criminal cartel case over a $2.5 billion ANZ share placement says the charges against him are defective and should be quashed.

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ASIC to hand over examination transcript in Westpac insider trading case
Allens 2021-09-01 5:19 pm By Miklos Bolza Sydney

ASIC has agreed to provide Westpac with the transcript of a compulsory examination of one of its traders in court proceedings accusing the bank of insider trading in relation to the $16 billion privatisation of electricity provider Ausgrid.

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Judge freezes Forum Finance director’s worldwide assets
Catherine Hamilton-Jewell 2021-08-27 5:34 pm By Cindy Cameronne Sydney

A judge has expanded a freezing order over assets owned by Forum Finance director Vincenzo Tesoriero to include property outside Australia, including a yacht in Miami dubbed “XOXO”, after Westpac raised concerns about non-disclosure.

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Fraud cross-claims struck out in Mach Energy suit over Mount Pleasant coal mine
Ben Kremer 2021-08-25 6:28 pm By Bianca Hrovat Sydney

A judge has struck out allegations of fraud in a cross-claim brought by the operator of a NSW open-cut coal mine, which accused several contractors of knowingly understating the time and cost of expansion works to the tune of $52 million.

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Criminal cartel charges against CFMEU dropped over witness concerns
ACCC 2021-08-17 1:06 pm By Cat Fredenburgh Melbourne

Criminal cartel charges against the CFMEU and its ACT branch secretary have been dropped amid concerns about witnesses’ ability to recall the events at the centre of the case, two months after witness credibility concerns led to a stinging defeat for the ACCC in the Country Care criminal cartel trial.

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