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
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
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...
Pty Ltd v Bothar Boring and Tunnelling (Australia) Pty
Ltd  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
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