LAW – AUSTRALIA – CASES

Chevron tax ruling to ‘hit investment’

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Original article by Matt Chambers
The Australian – Page: 22 : 3-May-17

Chevron’s chief financial officer, Patricia Yarrington, has told investors in the US that the oil and gas group may appeal a Federal Court of Australia ruling on the tax status of a $A2.5bn inter-company loan. She warned that the ruling will have implications for international transfer pricing guidelines, while it is likely to impact on future investment in Australia. However, Chevron’s Stephen Green has welcomed the findings of a review which recommended that any changes to the Petroleum Resource Rent Tax should not be retrospective.

CORPORATES
CHEVRON CORPORATION, CHEVRON AUSTRALIA PTY LTD, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN TAXATION OFFICE

Energy giants to be grilled over tax minimisation tactic

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Original article by Ben Butler
The Australian – Page: 17 & 20 : 26-Apr-17

Executive from major oil and gas producers will appear before the Senate economics reference committee on 28 April 2017. They include executives from Chevron, which recently lost a transfer pricing dispute with the Australian Taxation Office regarding a $A2.5bn inter-company loan. The case centered on the interest rate on the loan made by US-based Chevron to its Australian subsidiary, which is expected to prompt the ATO to issue new guidelines regarding interest rates for such loans.

CORPORATES
CHEVRON CORPORATION, CHEVRON AUSTRALIA PTY LTD, AUSTRALIAN TAXATION OFFICE, EXXONMOBIL CORPORATION, BHP BILLITON LIMITED – ASX BHP, WOODSIDE PETROLEUM LIMITED – ASX WPL, BP PLC, ROYAL DUTCH SHELL PLC, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, TAX JUSTICE NETWORK, GETUP LIMITED, MINTER ELLISON, FEDERAL COURT OF AUSTRALIA, HIGH COURT OF AUSTRALIA, RIO TINTO LIMITED – ASX RIO, CLAYTON UTZ

$500k in fines for ‘arrogant’ CFMEU

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Original article by Simone Fox Koob
The Australian – Page: 2 : 12-Apr-17

The Construction, Forestry, Mining & Energy Union has been ordered to pay a $A490,000 fine over unlawful industrial action in 2014. The Federal Court has also imposed fines of between $A6,400 and $A22,400 on 10 CFMEU officials for their involvement in the industrial action against Kane Constructions. The strike action, which disrupted 10 construction projects in Victoria, was prompted by Kane’s move to enforce union right-of-entry laws. The judgment has been welcomed by Employment Minister Michaelia Cash.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, KANE CONSTRUCTIONS PTY LTD, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, AUSTRALIAN MANUFACTURING WORKERS’ UNION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, SIR OWEN DIXON CHAMBERS, BMC WELDING AND CONSTRUCTION, JOHN BEEVER PTY LTD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Westpac subsidiary taken to court on super advice

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Original article by Lucy Battersby
The Age – Page: 19 : 23-Dec-16

The Australian Securities & Investments Commission has launched legal action against Westpac Securities Administration Limited (WSAL) and BT Funds Management (BTFM). ASIC alleges in documents filed with the Federal Court’s New South Wales registry on 21 December 2016 that WSAL and BTFM breached the "best interests duty" regulations on 15 occasions during a sales campaign promoting superannuation products.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FEDERAL COURT OF AUSTRALIA, WESTPAC SECURITISIES ADMINISTRATION LIMITED, BT FUNDS MANAGEMENT

CFMEU to pay official’s fine after court rescinds order

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Original article by Ewin Hannan
The Australian – Page: 4 : 22-Dec-16

The Construction, Forestry, Mining & Energy Union will be able to use its own funds to pay an $A18,000 fine on behalf of union official Joe Myles after a May 2016 court ruling was overturned. The full bench of the Federal Court has ruled in favour of the CFMEU, with Chief Justice James Allsop finding that the Fair Work Act did not permit him to ban the militant union from paying Myles’ fines for breaching workplace laws. However, he ruled that the fines themselves were appropriate.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, BORAL LIMITED – ASX BLD

Union’s law-breaking ‘knows no bounds’

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Original article by Ewin Hannan
The Australian – Page: 6 : 16-Dec-16

The Construction, Forestry, Mining & Energy Union has been fined for failing to comply with the Fair Work Act in its dealings with Hindmarsh Construction Australia. The company was the head contractor on a $105m apartment project in Brisbane, and the court upheld claims that the CFMEU had used a threat of industrial action to force Hindmarsh to accede to its demands. The CFMEU and its former national president Dave Hanna have been fined $A37,500.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, HINDMARSH CONSTRUCTION AUSTRALIA, FEDERAL CIRCUIT COURT OF AUSTRALIA, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Foxtel, Village’s landmark win to block pirates

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Original article by Jake Mitchell, David Swan
The Australian – Page: 19 & 22 : 16-Dec-16

The Federal Court of Australia has ruled that ISP must block access to five illegal file-sharing websites within 15 days. Foxtel and Village Roadshow had launched separate legal proceedings in a bid to combat the pirating of films and TV shows. Village Roadshow’s joint CEO Graham Burke has welcomed the judgment, arguing that the local film and TV production industry would collapse if action is not taken against such websites. Foxtel and Village Roadshow will have to pay the ISPs’ costs for blocking the infringing sites.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, VILLAGE ROADSHOW LIMITED – ASX VRL, FEDERAL COURT OF AUSTRALIA, TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, TPG TELECOM LIMITED – ASX TPM, IINET LIMITED, M2 GROUP LIMITED, 21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY, WARNER BROS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, STAN ENTERTAINMENT PTY LTD, NETFLIX INCORPORATED, ASHURST AUSTRALIA

Woolworths smashes ACCC on suppliers

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Original article by Sue Mitchell
The Australian Financial Review – Page: 1 & 7 : 9-Dec-16

Federal Court judge David Yates agreed with Woolworths that the retailer’s "Mind the Gap" scheme was of "ordinary nature" of doing business. The Australian Competition & Consumer Commission accused Woolworths of unconscionable conduct, but Justice Yates found that Woolworths did not contravene section 21 of the Australian Consumer Law. Australian Food & Grocery Council CEO Gary Dawson said the decision could lead to more companies requesting money from suppliers.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN FOOD AND GROCERY COUNCIL, NATIONAL PARTY OF AUSTRALIA

MUA in court over ports picket

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Original article by Ewin Hannan
The Australian – Page: 4 : 9-Dec-16

The Fair Work Ombudsman has launched legal action against the Maritime Union of Australia over unprotected industrial action in August 2015. The union picketed Hutchison Ports’ container terminals in Sydney and Brisbane, and organised work stoppages in response to the company’s move to retrench 97 employees. The FWO wants the MUA to pay compensation to Hutchinson, arguing that the industrial action breached workplace laws and an enterprise agreement.

CORPORATES
MARITIME UNION OF AUSTRALIA, HUTCHISON PORTS AUSTRALIA PTY LTD, AUSTRALIA. FAIR WORK OMBUDSMAN, FEDERAL COURT OF AUSTRALIA

Legal row over WA lithium discovery

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Original article by Paul Garvey
The Australian – Page: 22 : 15-Nov-16

Australian-listed Kidman Resources has rejected claims by Marindi Metals that it has a binding agreement to acquire the Earl Grey lithium deposit. Marindi engaged in email discussions with Kidman in April 2016 regarding the acquisition of the latter’s lithium rights at its tenements in Western Australia, and it alleges that these discussions constitute a binding contract. Kidman subsequently commenced a drilling program which resulted in the Earl Grey discovery.

CORPORATES
KIDMAN RESOURCES LIMITED – ASX KDR, MARINDI METALS LIMITED – ASX MZN, ROX RESOURCES LIMITED – ASX RXL, TECK CORPORATION