COMPROMISE (LAW) – AUSTRALIA

BHP pays $110m to settle dam class action

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Original article by Brad Thompson
The Australian – Page: 15 : 10-Sep-25

BHP has reached an out-of-court settlement over a class action that was launched on behalf of Australian investors who bought its shares in the three years or so before the collapse of an iron ore tailings dam in Brazil on 5 November 2015. BHP’s shares fell by 22 per cent in the wake of the disaster; amongst other things, BHP was accused of failing to disclose material information to the market and engaging in misleading or deceptive conduct by claiming that safety was its highest priority. BHP agreed to pay $110m shortly before the case was scheduled to be heard by the Federal Court. However, US-based litigation funder G&E KTMC Funding is expected to be entitled to a significant share of the payout.

CORPORATES
BHP GROUP LIMITED – ASX BHP, FEDERAL COURT OF AUSTRALIA, G&E KTMC FUNDING

Qantas, ACCC agree on $120m penalty for ghost flights

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Original article by Robyn Ironside
The Australian – Page: 15 & 19 : 9-Oct-24

The Federal Court has approved a settlement between Qantas and the Australian Competition & Consumer Commission regarding the former’s "ghost flight" scandal. Qantas has agreed to pay a $100m fine and pay affected customers a total of $20m in compensation for selling tickets for flights that had already been cancelled during the pandemic. The ACCC was represented by Chris Caleo KC, who argued that complying with consumer law must be a priority for Qantas, given that it is the nation’s largest airline and carries millions of passengers each year.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FEDERAL COURT OF AUSTRALIA

ANZ settles class action for $57.5m

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Original article by David Ross
The Australian – Page: 15 & 18 : 26-Mar-24

The ANZ Bank will pay $57.5 million to settle a class action brought by Phi Finney McDonald, with the law firm having alleged that the bank’s credit card had incorrectly charged customers. Phi Finney McDonald claimed the ANZ had told customers that they could pay repay as much or as little of the balance of their credit cards as they wanted, but did not warn them that if they did not repay the full balance that they would be charged interest against the full amount borrowed. The action was backed by Woodsford Litigation Funding, with the settlement due to be approved by the federal court in August.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PHI FINNEY McDONALD PTY LTD, FEDERAL COURT OF AUSTRALIA

ABC defamation bill hits $1.9 million over four years

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Original article by Calum Jaspan
The Age – Page: Online : 9-Aug-23

The ABC has disclosed its legal costs arising from defamation actions in recent years. Documents filed with the federal government show that the ABC spent $1.94m on legal costs over the four years to 2022-23. This includes legal settlements totalling $753,450 in 2020-21 and 2021-22, and external costs of $1.2m for the two financial years. However, the figures exclude data for the 2019-20 and 2022-23 financial years, as the public broadcaster was only required to disclose its legal costs for years in which there were three or more settlements.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

10 years on, ASIC drops Rio pursuit

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Original article by Nick Evans
The Australian – Page: 15 : 1-Mar-22

Rio Tinto has agreed to settle the Australian Securities & Investments Commission’s legal action over the $US29bn writedown of its Mozambique coal assets in early 2013. The $750,000 civil penalty for breaching Rio Tinto’s continuous disclosure obligations in the lead-up to the writedown must be approved by the Federal Court. ASIC has dropped most of the original charges against Rio Tinto, as well as former CEO Tom Albanese and ex-CFO Guy Elliott. Rio Tinto had acquired Mozambique-focused Riversdale Mining for $US3.7bn in 2011.

CORPORATES
RIO TINTO LIMITED – ASX RIO, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FEDERAL COURT OF AUSTRALIA, RIVERSDALE MINING LIMITED

10 years on, ASIC drops Rio pursuit

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Original article by Nick Evans
The Australian – Page: 15 : 1-Mar-22

Rio Tinto has agreed to settle the Australian Securities & Investments Commission’s legal action over the $US29bn writedown of its Mozambique coal assets in early 2013. The $750,000 civil penalty for breaching Rio Tinto’s continuous disclosure obligations in the lead-up to the writedown must be approved by the Federal Court. ASIC has dropped most of the original charges against Rio Tinto, as well as former CEO Tom Albanese and ex-CFO Guy Elliott. Rio Tinto had acquired Mozambique-focused Riversdale Mining for $US3.7bn in 2011.

CORPORATES
RIO TINTO LIMITED – ASX RIO, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FEDERAL COURT OF AUSTRALIA, RIVERSDALE MINING LIMITED

Sorry rugby chiefs pay Folau millions

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Original article by Remy Varga
The Australian – Page: 1 & 7 : 5-Dec-19

Rugby Australia has agreed to a confidential settlement with sacked player Israel Folau, who had been seeking $14m in compensation. He is expected to be paid several million dollars to settle the dispute, with Rugby Australia issuing an apology for any hurt or harm caused to Folau and his wife. Folau in turn has used a joint statement to apologise for any hurt or harm his social media comments had caused. The Australian Christian Lobby has advised that people who donated money for Folau’s legal defence will be entitled to a pro-rata refund.

CORPORATES
RUGBY AUSTRALIA, AUSTRALIAN CHRISTIAN LOBBY

Guthrie’s pay day: $1.64m to go away

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Original article by Lilly Vitorovich, Zoe Samios
The Australian – Page: 3 : 7-Mar-19

The ABC’s acting David Anderson has told a Senate committee that former MD Michelle Guthrie was paid $730,000 gross to settle her adverse action claim. He said the public broadcaster agreed to a confidential settlement after legal advice suggested that it could have incurred costs of up to $2m if the case had gone to court. Labor and the Community & Public Sector Union have criticised the size of the payout. Guthrie also received a $911,117 severance package following her dismissal in September.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN LABOR PARTY, COMMUNITY AND PUBLIC SECTOR UNION, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, ABC ALUMNI

ABC paid Michelle Guthrie $500,000 to drop lawsuit

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Original article by Aaron Patrick
The Australian Financial Review – Page: 6 : 5-Mar-19

Sources have indicated that investment banker and former ABC director Simon Mordant helped to negotiate a settlement with former MD Michelle Guthrie. Mordant has declined to comment on claims that he was asked to intervene in Guthrie’s dispute with the public broadcaster over her sacking in September. The settlement is said to include a payment of around $500,000 to discontinue her unfair dismissal claim, as well as a ‘nondisparagement clause’ that prevents all parties to the case from discussing the matter in the media.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SEVEN WEST MEDIA LIMITED – ASX SWM

ABC rebuked over settlement

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Original article by Jennifer Duke
The Age – Page: 12 : 4-Mar-19

Communications Minister Mitch Fifield says the federal government has been given no details of the ABC’s confidential settlement with former MD Michelle Guthrie. A spokesman for Fifield says the government would prefer complete transparency regarding any portion of the settlement that will be funded by taxpayers. The Australia Institute, the Institute of Public Affairs and advocacy group ABC Alumni have also urged transparency, but a spokesman for shadow communications minister Michelle Rowland has indicated that it is a matter for the ABC.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, THE AUSTRALIA INSTITUTE LIMITED, INSTITUTE OF PUBLIC AFFAIRS LIMITED, ABC ALUMNI, ABC AND FRIENDS, AUSTRALIAN LABOR PARTY