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When Restructuring Becomes Asset Stripping

In a significant 2024 decision, the Federal Court of Australia considered the collapse of TSK QLD Pty Ltd, a Queensland-based recruitment and labour-hire company servicing the mining and energy sectors. Its business depended heavily on accounts receivable generated from supplying labour to large commercial clients, with those receivables forming the company’s primary asset base. The Court later found that, rather than stabilising the business, a coordinated restructuring arra

By THE BRIEF EDITORIAL

fc winds up united global capital after governance failures

United Global Capital Pty Ltd (UGC) was an Australian financial-services firm holding AFSL 496179, controlled solely by director and responsible manager Joel James Hewish. UGC offered financial advice, including SMSF rollovers and investments in property-linked funds. By 2022, ASIC identified systemic concerns in the company’s operations, governance, and internal controls, flagging risks to investors before any verified losses were reported. Post-Royal Commission Environment

By THE BRIEF EDITORIAL

pds fineprint - what's included, what's excluded?

RACQ Insurance Limited (RACQ) is a Queensland-based insurer providing motor, home, caravan, trailer, and unique vehicle insurance products. Between February 2017 and March 2022, RACQ issued Product Disclosure Statements (PDSs) that represented to customers that any eligible discounts would apply to the entire premium payable, including optional benefits. The PDSs, however, often did not apply these discounts to optional coverages such as excess-free windscreen, hire car, pet

By CJ DORE

ANZ vs ASIC: Australia’s Hardest Corporate Penalty Yet

In September 2025, the Australian Securities and Investments Commission (ASIC) submitted a proposed A$240 million civil penalty to the Federal Court against Australia and New Zealand Banking Group Limited (ANZ). The penalty followed four separate ASIC proceedings covering institutional markets conduct and widespread retail banking failures. Although legally distinct, ASIC treated the matters as part of a broader pattern. The regulator characterised the conduct as occurring ac

By CJ DORE

ANZ vs ASIC: Australia’s Hardest Corporate Penalty Yet

Bingman gets reversal in ipc judicial review

In regional New South Wales, large resource projects are commonly assessed through the State Significant Development (SSD) pathway under the Environmental Planning and Assessment Act 1979 (NSW) (EP&A Act). That framework centralises decision-making, compresses approval timelines, and permits complex projects to be assessed at scale. It also places strict statutory obligations on consent authorities to consider the environmental impacts of proposed development before consent i

By THE BRIEF EDITORIAL

ACCC Fails on CFMEU Boycott Case - no arrangement

In 2016, Hutchinson Pty Ltd engaged a subcontractor to provide waterproofing services for the Southpoint A Apartments project in Brisbane. The subcontractor was not a party to an enterprise bargaining agreement with the Construction, Forestry, Maritime, Mining and Energy Union (CFMEU). The CFMEU threatened industrial action if Hutchinson continued to engage the subcontractor. Shortly thereafter, Hutchinson terminated the subcontractor’s engagement. background The Australian C

By THE BRIEF EDITORIAL

speculation meets financial evidence in pharma case

The Supreme Court of New South Wales decision in Mayne Pharma Group Limited v Cosette Pharmaceuticals, Inc. sits at the intersection of public mergers and acquisitions, valuation risk, and contractual certainty. At its core, the case examined whether a purchaser could withdraw from a signed takeover transaction by relying on a Material Adverse Change (MAC) clause when post-signing financial performance did not meet internal expectations. The judgment provides authoritative gu

By CJ DORE

What's the true cost of interest free?

The Federal Court of Australia placed Harvey Norman Holdings Limited and Latitude Finance Australia Pty Ltd under ongoing regulatory scrutiny following findings that national advertising campaigns for interest-free credit products were misleading. The proceedings, initiated by the Australian Securities and Investments Commission (ASIC) in October 2022, concerned campaigns marketed across television, digital, and in-store channels, promoting “no interest” or “interest-free” of

By THE BRIEF EDITORIAL

Greenwashing Penalty in Superannuation Fund

The Federal Court of Australia found that LGSS Pty Ltd, the trustee of Active Super, engaged in misleading or deceptive conduct by making unqualified public representations about excluded investments that were inconsistent with the fund’s actual portfolio holdings. The proceedings concerned whether categorical environmental, social and governance (ESG) statements made to members and the public accurately reflected the investments held by the fund during the relevant period. T

By THE BRIEF EDITORIAL

Greenwashing Penalty in Superannuation Fund