CBA faces penalty over rates slug

Original article by Joyce Moullakis, David Ross
The Australian Financial Review – Page: 16 : 2-Dec-20

The Australian Securities & Investments Commission has launched legal action against the Commonwealth Bank of Australia over allegations that it breached financial services laws. ASIC contends that customers with business overdraft accounts were charged incorrect interest rates between December 2014 and March 2018. CBA has advised that 2,269 customers who were overcharged during this period have been reimbursed $3.74m in total. ASIC is seeking pecuniary penalties and other orders.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Seven aims to make cricket pay

Original article by Ben Horne, Peter Lalor
The Australian – Page: 24 & 22 : 2-Dec-20

The Seven Network alleges that it has suffered significant commercial damage due to Cricket Australia’s changes to its match schedule for the 2020-21 summer. Australia was originally slated to play three Tests against India before Christmas, but CA has delayed two of these matches until the new year, while the revised schedule saw the cricket season begin with a six-match One-Day International series that is exclusive to Fox Sports. CA has cited the coronavirus pandemic as the key reason for changes to the schedule, but Seven contends that the Board of Control for Cricket in India exerted pressure to make the changes.

CORPORATES
SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, CRICKET AUSTRALIA, BOARD OF CONTROL FOR CRICKET IN INDIA

Qantas lodges JobKeeper appeal

Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 15-Oct-20

Qantas will appeal the Federal Court’s recent ruling that the airline has misused the JobKeeper wage subsidy scheme. Lawyers have warned that the court’s ruling has implications for all businesses that pay employees in arrears. The Business Council of Australia and the Council of Small Business Organisations are among the employers’ groups that will lobby the federal government to fix the anomaly, which arises if a business has a different pay cycle to that of JobKeeper’s fortnightly pay cycle.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, FEDERAL COURT OF AUSTRALIA, BUSINESS COUNCIL OF AUSTRALIA, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

ABC indulged ‘activist agenda’, says V’landys

Original article by Kieran Gair
The Australian – Page: 7 : 15-Oct-20

Racing NSW CEO Peter V’landys has given evidence in his defamation lawsuit against the ABC and one of its journalists. The case centres on a story that appeared on the ‘7.30’ current affairs program in October 2019; it featured an interview with V’landys that was spliced with graphic footage of retired racehorses being killed at a Queensland abattoir. V’landys claimed that the story "pandered to an activist agenda" and alleges that the ABC failed to make it clear that he has no jurisdiction over racehorses in Queensland. V’landys is seeking aggravated damages.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, RACING NSW

Regulator won’t appeal wagyu and shiraz case

Original article by John Kehoe
The Australian Financial Review – Page: 3 : 22-Jul-20

The Australian Securities & Investments Commission has ruled out an appeal against Westpac’s court win over allegations that it breached responsible lending laws. The full Federal Court recently upheld an August 2019 ruling in Westpac’s favour, and ASIC is believed to have decided that it will not take the matter to the High Court. ASIC will instead urge the federal government to make changes to credit laws in order to clarify the responsible lending rules.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FEDERAL COURT OF AUSTRALIA, HIGH COURT OF AUSTRALIA

Qld border closure irrational, discriminatory: silk

Original article by Chris Merritt
The Australian – Page: 1 & 4 : 10-Jun-20

A Brisbane-based travel agency is the lead plaintiff in a High Court challenge to the legal validity of the Queensland government’s coronavirus-induced border closure. The six plaintiffs want the government to disclose the information it relied upon when deciding to close the state’s borders. Amongst other things, they contend that the border closure breaches their constitutional right to travel freely within Australia and goes beyond what is necessary to control the virus’s spread.

CORPORATES
HIGH COURT OF AUSTRALIA, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

AUSTRAC, Westpac head to court

Original article by James Frost
The Australian Financial Review – Page: 19 : 9-Jun-20

Westpac and AUSTRAC are having difficulty agreeing on an agreed statement of facts as the two parties prepare to heard for court. AUSTRAC has accepted Westpac’s admission that it broke the law 23 million times, but AUSTRAC has indicated it plans to pursue Westpac for a series of "unquantifiable" breaches. Justice James Allsop said on 30 March that Westpac and AUSTRAC should be ready to go to trial "sooner than later" in a case that may well cost Westpac more than $1 billion to settle.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE

Fortescue facing massive compo bill

Original article by Brad Thompson
The Australian Financial Review – Page: 3 : 30-May-20

The High Court has rejected Fortescue Metals Group’s bid to overturn a previous Federal Court ruling in favour of the Yindjibarndi Aboriginal Corporation. The case centred on the traditional owners’ native title claim over some 2,700 sq km of land in Western Australia’s Pilbara region; the land in question contains Fortescue’s Solomon iron ore mining hub. The YAC is now expected to seek compensation from Fortescue; this is likely to comprise a percentage of Fortescue’s revenue from iron ore mining in WA.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, YINDJIBARNDI ABORIGINAL CORPORATION, HIGH COURT OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA

Casual benefits ruling raises JobKeeper risk

Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 22-May-20

Employers may face claims for up to $8bn in back pay following the Federal Court’s ruling that casual workers who have ‘regular and predictable shifts’ are entitled to paid leave and a 25 per cent loading. Industrial Relations Minister Christian Porter has flagged government action in response to the ruling, saying one option may be to give more casual workers the right to request that their jobs become permanent. Council of Small Business Organisations CEO Peter Strong says the ruling will deter small businesses from hiring casual workers, while Australian Industry Group CEO Innes Willox warns of the potential for large-scale job losses when the JobKeeper scheme ends in September.

CORPORATES
FEDERAL COURT OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, AUSTRALIAN LABOR PARTY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, THE AUSTRALIAN INDUSTRY GROUP

Google hit for defamatory search results

Original article by Tessa Akerman
The Australian – Page: 3 : 1-May-20

The Supreme Court of Victoria has directed Google to pay lawyer George Defteros $40,000 over search results linked to his name that he alleged were defamatory. Justice Melinda Richards stated that a 2016 link to an article in ‘The Age’ did carry defamatory imputations, but she noted that Defteros had taken some years to get in touch with the newspaper and ask for the article to be removed. Richards also noted that Defteros had referred to criminal Graham Kinninburgh as "a friend", and she suggested that this "reduced the sting of the defamatory imputation" that Defteros felt.

CORPORATES
GOOGLE INCORPORATED, SUPREME COURT OF VICTORIA