Glencore wins again
Commodity company Glencore will not face an appeal at the High Court of Australia since the court ruled against hearing an appeal. The court found that the ATO had not raised issues sufficient to warrant a special leave in this case.
“The Commissioner seeks to overturn findings of fact upheld by the Full Court. In our view, no question of principle sufficient to warrant a grant of special leave arises,” said Chief Justice Kiefel.
In doing rejecting a request for special leave, the High Court has upheld the September 2019 Federal Court decision that found the ATO misapplied key provisions of transfer pricing (TP) rules.
Wednesday, May 19, 2021
A joint hearing between the Federal Court of Australia (FCA) and the High Court of NZ (NZHC) has broken new ground. In proceedings brought by the liquidators of Halifax Investment Services Pty Ltd (In Liquidation) (Halifax Australia) and Halifax New Zealand Limited (In Liquidation) (Halifax NZ), in the FCA and the NZHC respectively, the Courts delivered on 19 May 2021, contemporaneous judgments and made consistent orders after sitting together in a final hearing in December 2020.
Each Court delivered separate judgments after deliberating together about the principal issues before each of the Courts for resolution
(Kelly (Liquidator), in the matter of Halifax Investment Services Pty Ltd (in liquidation) v Loo [2021] FCA 531;
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The Full Court of the Federal Court held on May 10, 2021 that Liquidators were not entitled to apply the so called “peak indebtedness rule” for the purpose of determining whether there was an unfair preference under Section 588FA(1) of the
Corporations Act 2001 (Cth).
The Full Federal Court abolished the “peak indebtedness rule” in favour of the stated purpose of the Act which is: “In essence to do fairness between unsecured creditors”.
The doctrine of “ultimate effect”, thereby, staged a delayed “return” as the appropriate test to apply to answer questions about whether payments to creditors constitute “unfair preferences” and section 588FA(3) of the Act, which concerns questions about when a payment to a creditor is part of a continuing transaction, was confirmed as not supporting the application of the “peak indebtedness rule”.
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NIB to continue to notify consumers of health insurance changes which increase out-of-pocket expenses
The ACCC and NIB Health Funds Limited (NIB) have agreed to the ACCC’s Federal Court proceedings against NIB being discontinued after NIB committed to continue to provide advance notice to its members of policy changes which are likely to result in higher out-of-pocket expenses for consumers.
In these proceedings, the ACCC had alleged NIB engaged in misleading or deceptive conduct, unconscionable conduct and made false or misleading representations by failing to inform policy holders of its decision to remove coverage for certain eye procedures from its ‘MediGap Scheme’ in 2015. It was alleged that, as a result, NIB members who had undergone certain eye procedures were likely to incur increased out-of-pocket expenses. NIB had not given its members advance notice of the changes.
iTWire Monday, 10 May 2021 12:10 ACCC seeks leave to appear in Epic Games, Apple court appeal Featured ACCC Chair Rod Sims
The competition watchdog, the ACCC, has sought leave to appear at the hearing of Epic Games appeal to the Full Federal Court against an earlier Court decision to stay Epic’s proceedings against Apple.
The Australian Competition and Consumer Commission (ACCC) seeks the Court’s leave to appear as an ‘amicus curiae’ - ‘
friend of the Court -,or to intervene as a non-party, to make submissions to the Full Court about the public policy in favour of disputes involving Australia’s competition laws being heard and determined by Australian courts.