The Court, in the biggest merger litigation in Australia in 10 years, found against the ACCC and held that the merger would not have the likely effect of substantially lessening competition. Fiona ...

The recent outbreak of the novel coronavirus is causing disruption across greater China and the region. This cross-practice guide from our colleagues at Linklaters highlights key issues that may affect business operations in the current environment. ...

A parliamentary inquiry has been announced into whether Australia should introduce a legislation authorising the government to impose sanctions against gross human right abusers. ...

The Federal Court has handed down the first judgment in a shareholder class action. There is plenty in the decision for board members and senior executives to consider in the application of the continuous disclosure laws. ...

Australia's modern slavery reporting regime was introduced one year ago, and 2020 will see the first set of modern slavery statements published by reporting entities. ...

The Australian Law Reform Commission released for consultation today a set of proposals aimed at overhauling the federal corporate criminal responsibility regime. This comes in the wake of criticisms that the current system is ineffective in preventing, deterring and prosecuting serious corporate crime. Whilst the reforms offer a clearer, consistent and more rational framework for addressing corporate misconduct in Australia, some elements (such as the adoption of a general 'associate' model for criminal attribution) will no doubt raise concern given their capacity to significantly extend corporate liability. We examine some of the key proposals and their likely impact. Partner Christopher Kerrigan and Senior Overseas Practitioner Cindy McNair report. ...

The Australian Government has tabled the Crimes Amendment (Combatting Corporate Crime) Bill 2019 (the 2019 Bill) in the Senate, and the Attorney-General's Department has released Draft Guidance on the steps a body corporate can take to prevent an associate from bribing foreign public officials for public consultation (the Draft Guidance). Like the 2017 version of the Bill that lapsed earlier this year (the 2017 Bill), if passed, the 2019 Bill will strengthen Australia's foreign bribery laws, including by introducing a new corporate offence of failure to prevent bribery by an associate, and will introduce a Deferred Prosecution Agreement (DPA) scheme for resolving serious corporate criminal matters. Partner Rachel Nicolson, Senior Associate Andrew Wilcock and Associate Lewis Winter report on the key differences between the 2017 and 2019 Bills, and the content of the Draft Guidance. ...

The Equator Principles Association unveiled the finalised fourth version of the Equator Principles (EP4) on 18 November 2019. Set for an effective date of 1 July 2020, EP4 heightens requirements for designated OECD countries and tightens due diligence assessments with a greater focus on human rights, climate change and biodiversity. While there are many improvements and refinements from the draft we reviewed in June, the only potentially material change is a compromise on the 'free prior and informed consent' requirement for affected Indigenous communities. ...

A recent Supreme Court of Victoria decision sounds a warning to principals and contractors alike – your dispute resolution clause must be clear and unambiguous, because the court will not go out of its way to cure a commercially peculiar, but perfectly workable, clause. ...

Papua New Guinea (PNG) recently acceded to the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards, which is likely to increase its attractiveness to foreign investors. ...