Perhaps the most important unanswered question in Australian class action law has been how causation may be established in a shareholder class action After more than a decade of uncertainty the Supreme Court of NSW has ruled that shareholders can prove causation by establishing that the price of the ...

In a recent Federal Court decision Justice Murphy refused to approve the settlement agreement between the parties to the Willmott class action finding that the terms of the settlement were not fair and reasonable ...

The ACCC has been given powers to monitor and enforce compliance with new laws prohibiting merchants from charging excessive payment surcharges Partner Carolyn Oddie Associate Theodore Souris and Lawyer Emma Gorrie report ...

ASIC has recently raised concerns about forward-looking statements by Australian miners that are made on the basis of preliminary scoping or feasibility studies In a new Information Sheet it has suggested that without certainty as to project funding such statements could constitute misleading ...

The Victorian Court of Appeal has confirmed that a dispute resolution clause providing for mediation is insufficient to exclude variations claims from the statutory adjudication process under the Victorian Security of Payment regime The decision also confirms that when determining the value of a ...

The Queensland Parliament has passed the Chain of Responsibility Bill with important amendments prior to enactment The amending Act establishes a new regime under the States primary environmental legislation that exposes related bodies corporate executive officers financiers shareholders and a ...

ASIC has released a report looking at the way vertically integrated funds management businesses deal with conflicts of interest The report summarises the findings of ASICs recent review of a number of businesses and sets out some good practice recommendations Partner Marc Kemp and Senior Associate ...

Among other measures designed to combat multinational tax avoidance contained in the 2016-17 Budget is the intended introduction of an Australian Diverted Profits Tax DPT This will broadly replicate the second limb of the existing United Kingdom DPT It will address profit shifting by Australian ...

At a time of increasing shareholder activism a recent decision of the Full Court of the Federal Court has confirmed that activist shareholders have a very limited part to play in the exercise of a boards power in the management of a company Partners Kim Reid and Julian Donnan and Associate Manu ...

The Parliamentary Economics Committee released its report following its review into Australias four major banks yesterday Our Financial Services Regulation team has a look at the recommendations in this update ...