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Regulation

Court orders Macro wind-up

The Federal Court has granted the corporate watchdog’s request to wind-up Pilbara-based property developer Macro Group, appointing representatives of KPMG as liquidators today.

Big businesses sign shorter payment terms

The lobby group representing Australia’s big businesses has called on the sector to sign up to its new voluntary payment term code in a bid to stave off regulatory changes.

EPA gives tick for Water Corp plant upgrades

The Environmental Protection Authority has recommended approval of the second stage of Water Corporation’s groundwater replenishment scheme, which will boost Perth’s drinking water supplies.

Rennie to lead public service review

A former New Zealand bureaucrat has been appointed to lead a three-person panel that will conduct a review into the state’s public service, where Premier Mark McGowan is targeting $750 million in savings.

Noske sentenced to 18 months

Former company director Steve Noske has been sentenced today to 18 months' imprisonment and fined $20,000 after being found guilty early this month of insider trading in takeover target Westside Corpo

Moly Mines delisted with $63m in the bank

Nearly 4,000 shareholders in West Perth company Moly Mines have effectively become stranded in the $63 million cashbox after a stand-off between its board and the ASX ended in a delisting of its stock.

More than single lead source at PCH: Gow

UPDATED: Building commissioner Peter Gow has issued a clarifying statement today (Tuesday), essentially confirming the state government's view that lead leaching directly from brass fittings remains the only significant source of lead at Perth Children’s Hospital.

Veem manager resigns amid court action

The recently recruited global sales manager of Perth engineering company VEEM has been forced to resign after his former employer took Supreme Court action, claiming he breached terms of his employment agreement.

Gow questions builder's financial status

The building commissioner has put out a public warning against a local building company, saying its financial status warrants questioning.

UWA spin-out wins appeal

The University of Western Australia could be forced to pay nearly $5 million to Bibra Lake business TSW Analytical after the Court of Appeal found its relationship with the spin-out company was largely undocumented and opaque.

Court rejects power station claim

The Japanese owners of the Bluewaters Power Station near Collie face the prospect of substantial payments to the energy market operator, after an incident that has put one of its generating units out of service for up to six months.

Indiana survives leadership spill

A day after the Takeovers Panel put restrictions on the voting power of a group of shareholders in Indiana Resources, the same group has withdrawn plans to seek a board restructure vote at an upcoming general meeting.

Takeovers Panel handling Indiana, Molopo disputes

The Takeovers Panel is at the centre of two disputes, with Indiana Resources having a partial win today while a Melbourne company with Perth-based shareholders fights a board spill of its own.

Fortescue fined for water spill

Iron ore miner Fortescue Metals Group has paid a $25,000 fine to the Department of Environment Regulation over a discharge accident in 2015.

Former AWB chair Flugge fined $50,000

Former Australian Wheat Board chairman Trevor Flugge has been fined $50,000 and barred from managing corporations for five years, after he was convicted in December of breaching his duties as a director while the company was making questionable payments to the government of Iraq.

Indiana fights takeover play

Bronwyn Barnes has been appointed the new chair of West Perth-based Indiana Resources, on the same day the company went to the Takeovers Panel to fight attempts by a group of shareholders to oust existing directors.

Steven Noske guilty of insider trading

Perth business executive Steven Noske faces the possibility of a gaol term after being found guilty and convicted on one count of insider trading in takeover target Westside Corporation.

Audit finds minor non-compliance at Roe 8

An environmental audit on the cancelled Roe 8 highway extension project has found just one minor area of non-compliance in the implementation of management plans by the project’s proponents.

Directors to get safe harbour during insolvency

The federal government has introduced draft insolvency reforms designed to offer more protection for company directors and make it easier to restructure faltering businesses.

Quintis stands firm on ASX queries

Quintis temporarily put the brakes on its falling share price by entering into a trading halt this morning, as it compiled a lengthy response to queries raised by the ASX.

Court rejects Mesa shareholder claims

A major shareholder in failed manganese company Mesa Minerals has lost its bid to have administrators replaced after the Supreme Court ruled there was no evidence of bias between Pitcher Partners and Mesa’s largest stakeholder, Mineral Resources.

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