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Multiplex wants Hastie liquidators to pay up for betting on set-off limitation
Multiplex is calling for the liquidators of collapsed engineering services group Hastie to pay its costs, and pay now, for pursuing an action to recover millions of dollars in unpaid bills on the grounds that the construction company was not entitled to offset its debts with amounts owing.
Funder won’t fight court’s power to vary class action commission
Whether judges can alter the terms of litigation funding agreements in class actions is a question that will remain unsettled for now, after litigation funder IMF Bentham chose to sidestep a lengthy, costly and risky challenge to the reach of the court's powers.
NAB says ‘significant’ penalties loom over money laundering breaches
The National Australia Bank faces the prospect of "significant monetary penalties" after self-reporting a potentially large number of money laundering and counter terrorism financing breaches to AUSTRAC and its overseas counterparts.
Chinese co’s $1.5B acquisition of Bellamy’s baby food empire gets the green light
The Federal Government has conditionally approved a $1.5 billion acquisition of all shares in baby food and milk formula manufacturer Bellamy's Australia by a Hong Kong-based dairy firm after finding the transaction was "not contrary to the national interest".
Worrells backs partner targeted by ‘unexpected’ ASIC action
Insolvency firm Worrells has come out in support of partner Jason Bettles, who is facing an investigation by the corporate regulator for his work as liquidator of the Members Alliance Group of companies, saying the probe was unexpected.
$2.5M break fee in Pacific Energy takeover battle not anti-competitive, panel says
The Takeovers Panel has found that while a $2.5 million break fee included in a $470 million takeover offer lobbed during a bidding war for Western Australia power supplier Pacific Energy was not a "common market approach", it was not anti-competitive or coercive.
Google blasts ACCC’s ‘cherry-picked’ suit over data collection disclosures
Google has slammed landmark regulatory action brought by the Australian Competition and Consumer Commission over the collection and use of location data on Android devices as "cherry-picked", saying the watchdog had read alleged misstatements by the tech giant out of context.
Ex-Murray Goulburn execs say judge should not disqualify them again
The former chief financial officer of Murray Goulburn has asked a judge to relieve him from any disqualification order sought by the corporate watchdog in its case over his alleged role in the milk supplier's continuous disclosure breaches, saying he is already the subject of orders that ban him from the dairy industry.
IP firm pursues potential lawsuit against HWL Ebsworth
A specialist IP law firm has launched preliminary discovery proceedings against HWL Ebsworth after one of its lawyers jumped ship.
ASIC wants to probe Worrells liquidator over winding up of Members Alliance Group
The Australian Securities and Investments Commission wants to investigate the conduct of a Worrells partner in relation to the winding up of Members Alliance Group, a group of property investment companies whose 2016 collapse stripped creditors of over $40 million and left its director facing fraud charges.