In the media
Colonial First State to pay $20 million penalty for
misleading superannuation members
The Federal Court has ordered Colonial First State
Investments Limited, as trustee for the Colonial First State
FirstChoice Superannuation Trust, to pay a penalty of $20 million
for misleading communications with members. The Court noted this to
be a substantial penalty for serious contraventions of the law (19
October 2021).
More...
Star promises to defend as two Australian law firms
investigate class actions
Two Australian law firms have announced they are
investigating possible class actions against Star Entertainment
Group around alleged inadequacies in in the company's internal
systems for ensuring compliance. The proposed class action will
allege that Star engaged in misleading and deceptive conduct;
breached its continuous disclosure obligations; and conducted its
affairs contrary to the interests of members as a whole in the
period" (19 October 2021).
More...
Competition in Australia faces big challenges
In a speech to the Competition Law and Economics Workshop
jointly hosted by the University of South Australia and the ACCC,
Mr Sims said three main competition issues needed to be addressed
to protect the health of our economy: Merger law reform, the need
to prove the future in competition cases, and the role of new
regulation for digital platforms (15 October 2021).
More...
IAG could face financial penalties after ASIC
action
ASIC says Insurance Australia Ltd engaged in misleading or
deceptive conduct and made false or misleading representations by
stating some NRMA Insurance customers were eligible for certain
discounts on home and motor policy renewals, but then not applying
the savings. New penalty provisions introduced after the Hayne
royal commission allow ASIC to pursue harsher penalties for
breaches of the Corporations Act and the ASIC Act (18 October
2021).
More...
ACCC seeks injunction to stop fertility clinic
acquisition
ACCC Chair Rod Sims said the acquisition would increase
Virtus' already significant market share in Brisbane and
Melbourne and there are strong indications that Adora has been a
vigorous competitor, driving down prices for IVF services through a
low-cost model (13 October 2021).
More...
Cases
Ausipile
Pty Ltd v Bothar Boring and Tunnelling (Australia) Pty
Ltd [2021] QCA 223
CONTRACTS – BUILDING, ENGINEERING AND RELATED
CONTRACTS – REMUNERATION – STATUTORY REGULATION OF
ENTITLEMENT TO AND RECOVERY OF PROGRESS PAYMENTS – PAYMENT
CLAIMS – where the appellant and respondent entered a
subcontract agreement to design and construct a secant pile launch
shaft – where the respondent hired a crawler crane from the
appellant to complete works under the head contract – where
the appellant applied for judgment pursuant to s 78(2)(a) of the
Building Industry Fairness (Security of Payment) Act 2017 (Qld) to
recover amounts owing under a payment claim but the application was
dismissed – whether the variation in relation to the hire of
the crawler crane related to a contract other than the subcontract
– whether the payment claim contained claims in relation to
two contracts – whether the payment claim was void for the
purpose of the Building Industry Fairness (Security of Payment) Act
2017 (Qld)
CONSUMER PROTECTION – MISLEADING OR DECEPTIVE CONDUCT OR
FALSE REPRESENTATIONS – CHARACTER OR ATTRIBUTES OF CONDUCT OR
REPRESENTATION – SILENCE AND NON-DISCLOSURE – where the
respondent sent the appellant a letter stating that it would
withhold further payment claims "as discussed" –
where the appellant did not respond to the letter – whether
the appellant's silence was misleading or deceptive or likely
to mislead or deceive. Building Industry Fairness (Security of
Payment) Act 2017 Qld s 67, s 68, s 69, s 70, s 75, s 76, s 77, s
78, s 100
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.