O7540 Justice

iiNet must reveal downloaders’ IDs

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Original article by Marianna Papadakis, David Ramli, Max Mason
The Australian Financial Review – Page: 3 : 8-Apr-15

The Federal Court of Australia has upheld a bid to obtain the identities of people who allegedly downloaded illegal copies of a US film. Dallas Buyers Club LLC took legal action against several ISP to obtain the names and residential addresses of Australians associated with more than 4,700 IP addresses that were used to download "Dallas Buyers Club". The ruling affects iiNet, Dodo, Adam Internet, Amnet and Internode

CORPORATES
FEDERAL COURT OF AUSTRALIA, IINET LIMITED – ASX IIN, DODO INTERNET PTY LTD, ADAM INTERNET PTY LTD, AMNET LIMITED, INTERNODE SYSTEMS PTY LTD, M2 GROUP LIMITED – ASX MTU, DALLAS BUYERS CLUB LLC, VOLTAGE PICTURES LLC, COMMUNICATIONS ALLIANCE LIMITED, HIGH COURT OF AUSTRALIA

Wesfarmers criticises ‘effects test’

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Original article by Julie-Anne Sprague
The Australian Financial Review – Page: 10 : 2-Apr-15

The final report of the Harper review of competition law has recommended strengthening existing laws on the misuse of market power. However, retail giants Woolworths and Wesfarmers do not support the introduction of a so-called "effects test", and Wesfarmers CEO Richard Goyder believes that it may in fact adversely affect consumers. An effects test has the support of National Farmers’ Federation CEO Simon Talbot

CORPORATES
WESFARMERS LIMITED – ASX WES, WOOLWORTHS LIMITED – ASX WOW, NATIONAL FARMERS’ FEDERATION LIMITED, AUSTRALIAN LABOR PARTY, COLES GROUP LIMITED

Small business warning

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Original article by James Eyers
The Australian Financial Review – Page: 15 : 1-Apr-15

The Australian Bankers’ Association’s submission on the financial system inquiry has broadly supported the recommendations on increased capital requirements for the nation’s banks. However, it has questioned the need for local banks to be in the top quartile of banks globally. The submission also raises concerns over the proposal for credit contracts to be covered by laws on unfair contracts, noting the potential impact on loans to small businesses

CORPORATES
AUSTRALIAN BANKERS’ ASSOCIATION, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Union could face $500,000 in penalties

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Original article by Ewin Hannan
The Australian Financial Review – Page: 3 : 19-Mar-15

Fair Work Building & Construction director Nigel Hadgkiss will pursue significant financial penalties against the construction industry union following a Federal Court ruling. The court has ruled that the Construction, Forestry, Mining & Energy Union’s conduct during industrial action in Melbourne in 2012 was in breach of workplace laws. The union and six officials could face fines of more than $A500,000

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, FAIR WORK BUILDING AND CONSTRUCTION, FEDERAL COURT OF AUSTRALIA, EMPORIUM MELBOURNE, McNAB PTY LTD, SUPREME COURT OF VICTORIA, GROCON PTY LTD, MONJON AUSTRALIA

Hockey claim for ‘substantial’ damages in Fairfax case

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Original article by Marianna Papadakis
The Australian Financial Review – Page: 2 : 18-Mar-15

The defamation case brought by Federal Treasurer Joe Hockey against Fairfax Media continued on 17 March 2015. Hockey is being represented by Bruce McClintock, SC, who told the court that in addition to general damages his client should receive aggravated damages. McClintock argued that the three Fairfax newspapers that published the allegedly defamatory articles should be treated separately in any assessment of general damages

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIA. DEPT OF THE TREASURY, NORTH SYDNEY FORUM, LIBERAL PARTY OF AUSTRALIA

Insider trader gets seven years’ jail

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Original article by Patrick Durkin
The Australian Financial Review – Page: 3 : 18-Mar-15

The Supreme Court of Victoria has jailed two men on insider trading charges. Lukas Kamay will be eligible for parole after serving four and a half years in jail, while Christopher Hill can apply for parole after two years. Kamay was working as a foreign exchange trader at National Australia Bank when the illegal bets on the Australian dollar were made during 2013 and 2014. Kamay was also jailed on money laundering and identity theft offences

CORPORATES
SUPREME COURT OF VICTORIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN BUREAU OF STATISTICS, UNIVERSITY OF MELBOURNE, MONASH UNIVERSITY, VICTORIA. DIRECTOR OF PUBLIC PROSECUTIONS, AXICORP PTY LTD, PEPPERSTONE FINANCIAL PTY LTD

Lower test will add fuel to the fire for shareholder class actions

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Original article by John Emmering, Michael Legg
The Australian Financial Review – Page: 32 : 13-Mar-15

In most cases, shareholder class actions in Australia are based on alleging causation between losses incurred by shareholders and directors’ behaviour. Until now, Australian courts have required proof of individualised reliance. The Federal Court’s observations in the case against Babcock & Brown directors are likely to stimulate discussion of causality in class actions

CORPORATES
BABCOCK AND BROWN LIMITED, FEDERAL COURT OF AUSTRALIA, DOWNER EDI LIMITED – ASX DOW, ARASOR CORPORATION, UNIVERSITY OF NEW SOUTH WALES, JONES DAY

Rinehart sues for Hancock ‘falsehoods’

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Original article by Jared Lynch
The Australian Financial Review – Page: 21 : 3-Mar-15

Australian billionaire Gina Rinehart is seeking damages from Nine Entertainment Company for alleged defamation. Rinehart says that 20 "glaring errors" were made in Nine’s two-part TV series "House of Hancock". Her claims, including that Nine committed the tort of injurious or malicious falsehood, were filed in the Supreme Court of New South Wales in late February 2015

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SUPREME COURT OF NEW SOUTH WALES, HANCOCK PROSPECTING PTY LTD

Regulators examine super switch breaches

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Original article by Clancy Yeates
The Australian Financial Review – Page: 18 : 3-Mar-15

The Australian Prudential Regulation Authority will look into allegations that banks are illegally trying to gain market share in the superannuation sector. UMR Research has released the findings of a survey which suggests that banks have offered inducements to encourage employers to change their default super funds to those offered by the banks. The Financial Services Council says UMR should disclose which banks have offered incentives to switch default funds

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, UMR RESEARCH PTY LTD, FINANCIAL SERVICES COUNCIL, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. DEPT OF THE TREASURY, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, BT FINANCIAL GROUP PTY LTD

No Death Penalty for Andrew Chan and Myuran Sukumaran say 53% of Australians

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Mar-15

A special snap SMS Morgan Poll has found that 52 per cent of Australians say that Australians convicted of drug trafficking in another country and sentenced to death should be executed, which is unchanged since January 2015. The poll, which was carried out from 27 February-1 March, also shows that 53 per cent of Australians say convicted drug traffickers Andrew Chan and Myuran Sukumaran should not be executed in Indonesia. Roy Morgan Research executive chairman Gary Morgan that there are a number of complicating factors in the case of Chan and Sukumaran, including signs of remorse and rehabilitation, and allegations of bribery and corruption among the judiciary in Indonesia

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ROY MORGAN RESEARCH LIMITED