Corporate Regulatory News

Federal Government Proposes Modern Slavery In Supply Chains Reporting Requirement

Monday 21 August 2017 @ 11.37 a.m. | Corporate & Regulatory

Minister for Justice Michael Keenan has announced that the Federal Government is proposing to introduce legislation for businesses to report annually on steps they have taken to address modern slavery within their supply chains.  The Federal Government has released a discussion paper outlining their proposed legislative model and it will be open for public comment until 20 October 2017.  The discussion paper says that the Minister for Justice hopes to review this feedback before bringing forward the draft legislation in the first half of 2018.

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Ramsay Health Care Australia Pty Ltd v Compton [2017] HCA 28: Bankruptcy Debt

Friday 18 August 2017 @ 12.19 p.m. | Corporate & Regulatory

Yesterday (17 August 2017), the High Court published reasons for dismissing an appeal on 4 May 2017 from a decision of the Full Court of the Federal Court of Australia in the case of Ramsay Health Care Australia Pty Ltd v Compton [2017] HCA 28. A majority of the High Court held that where a creditor’s petition is based upon a judgment debt resulting from a contested hearing, yet there are substantial reasons for questioning whether behind that judgment there was in truth and reality a debt due to the petitioner, the Bankruptcy Court has a discretion to “go behind” the judgment to investigate whether the debt relied upon is truly owing.

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First Criminal Prosecution for Cartel Related Offence: CDPP v Nippon Yusen Kabushiki Kaisha

Monday 7 August 2017 @ 10.48 a.m. | Corporate & Regulatory | Crime | Trade & Commerce

On 3 August 2017, his Honour Justice M A Wigney of the Federal Court of Australia released a summary intended to ". . . assist in understanding the reasons for imposing the sentence" in the matter of, Commonwealth Director of Public Prosecutions v Nippon Yusen Kabushiki Kaisha [2017] FCA 876. The reasons for deviating from the traditional practice of delivering reasons or remarks on sentence in a criminal matters orally were described as being twofold by his Honour: firstly, the length and complexity of the case; and secondly, the fact that:

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NSWCA Finds Planning Approval For Mine Extension Invalid

Thursday 3 August 2017 @ 11.58 a.m. | Corporate & Regulatory

An environmental group has successfully challenged the NSW Government’s approval of an extension of underground coal mining operations at the Springvale Mine.  In 4nature Incorporated v Centennial Springvale Pty Ltd [2017] NSWCA 191, the New South Wales Court of Appeal overturned an earlier decision by the Land and Environment Court which had found the approval process to be valid.  The NSW Court of Appeal will now hear further submissions before making orders about whether or not to close the mine, or take other action.

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Maurice Blackburn Latest Law Firm to Propose Class Action re Shareholders of Sirtex Medical

Thursday 3 August 2017 @ 9.58 a.m. | Corporate & Regulatory | Legal Research | Trade & Commerce

ASX-listed Sirtex Medical (the company) is reported to be facing two class actions. The actions arise over allegations that the company, a biotech company, engaged in misleading and deceptive conduct relating to missed sales forecasts for the years 2016/17 which are said to have initiated a plunge in the company's share price. Two law firms, namely, William Roberts Lawyers and Maurice Blackburn Lawyers have each invited the company's shareholders to join separate class actions against the company.

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