Auto giant GM breaks ground on China plant
June 19, 2013

US auto giant General Motors on Wednesday broke ground on a $1.3 billion plant in Shanghai to produce Cadillacs as it seeks a larger share of China’s growing market for luxury cars.

The plant will have annual output capacity of 160,000 vehicles, with production to start in two years, GM officials….”

Softbank prevails in Sprint Nextel deal as Dish abandons bid

AFP-JIJI, Kyodo | 19 JUNE 2013

NEW YORK – U.S. satellite television provider Dish Network Corp. announced Tuesday it has dropped plans to submit a revised bid for Sprint Nextel, paving the way for Softbank Corp.’s rival offer to be accepted.

Dish Network said it still saw “strategic value” in a merger with Sprint but that it would not submit a revised offer by Tuesday’s deadline due to Sprint’s decision to terminate due diligence ….”

UPDATE 1-Spain’s Bami latest property firm to file for insolvency

Tue Jun 18, 2013 2:25pm EDT

(Reuters) – Spanish property developer Bami has filed to begin insolvency proceedings, a company spokesman said on Tuesday, the latest in a series of real estate groups and other firms in the recession-hit country to struggle to refinance their debts.

Dozens of property firms have collapsed in Spain, where house prices have fallen 40 percent from their 2007….”

Alpine May Face Austria’s Biggest Insolvency Since 2010

By Boris Groendahl – Jun 19, 2013

Alpine Holding GmbH, the Austrian builder owned by Fomento de Construcciones y Contratas SA, may incur the country’s biggest insolvency in three years after attempts to reach a restructuring failed and were terminated.

Alpine Bau, the company’s operating unit with businesses in Austria, Germany and eastern Europe that employ 15,000 staff, plans to file for restructuring to rescue parts of the group, Alpine said in a statement yesterday. Alpine Holding….”

Lisa Ho folds, as administrators are unable to find a buyer for the iconic brand

Wednesday, 19 June 2013 12:30

Yolanda Redrup

In a sad day for Australian fashion, iconic Australian fashion retailer Lisa Ho is closing up shop and 100 people are out of work, with a buyer unable to be secured despite a high level of interest.

Administrators Barry Taylor and Todd Gammel from HLB Mann Judd said in a statement yesterday afternoon the remaining Lisa Ho stores ….”

13-146MR ASIC charges former company director with fraud
Wednesday 19 June 2013
Mr Steven William Hill, 52, of Kelso, New South Wales, has appeared in the Bathurst Magistrates Court charged with 8 counts of fraudulent misappropriation. The charges follow an ASIC investigation.
ASIC alleges that between 5 January 2006 and 6 March 2007, Mr Hill through Hill Stephens & Associates Pty Ltd (HSA) and International Finance Consortium (Aust) Pty Ltd (IFC) dishonestly induced various investors to pay approximately $618,000 to acquire interests in a “house and land” property development located in Queensland.
It is alleged that investors never received the returns promised, and that $431,000 of the….”

Lisa Ho shuts up shop

June 18, 2013 | Jenna Clarke

Fashion designer Lisa Ho is closing down.

Administrators HLB Mann Judd issued a statement on Tuesday announcing the end of the Australian fashion queen’s 30-year reign.

“Despite considerable interest, a sale of bthe Lisa Ho Group usiness as….”

World’s best airline named as Qantas soars back into top 10

June 19, 2013 | Craig Platt

Emirates has been named the best airline in the world for 2013, while Qantas has soared back into the top 10 in this years annual World Airline Awards.

Qantas fell out of the World Airline Awards’ top….”

Federal Court considers the new patent entitlement provisions for the first time

19th Jun 2013

By Odette Gourley (Partner), Sarah-Jane Armstrong (Lawyer) & William Daymond (Lawyer)

In a recent interlocutory injunction proceeding before his Honour Justice Rares in the Federal Court of Australia,[1] the new patent entitlement provisions of the Patents Act 1990 (Cth), which were introduced on 15 April 2013, were considered, it is understood, for the first time. 

The amendments provide that a patent is ….”

M&A litigation on the rise

17th June 2013

New cartel rules are encouraging more companies to pursue ‘bid rigging’ and misleading conduct claims for M&A deals.

With three recent cases in the Federal Court, more companies are considering anti-trust legal action in the context of M&A transactions, according to Corrs Chambers Westgarth partner, Jonathan Farrer.

Mr Farrer noted recent cases involved claims of bid rigging and misleading and deceptive conduct during M&A ….”