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Italy seeks damages from ArcelorMittal over steelworks
The Italian government has stepped up its legal fight with ArcelorMittal, seeking €7 billion ($8.17 billion) in damages over the running of the country’s largest steel plant, formerly known as ILVA, as it looks for new owners to stabilise the ailing business. State-appointed administrators of Acciaierie d’Italia (ADI), which took over the steelworks in early 2024, have filed a lawsuit in a Milan court accusing the world’s biggest steelmaker of mismanaging the company during its period of ownership. The claim marks a sharp escalation in a long-running dispute over the future of the sprawling steel complex, which is seen as strategically vital for Italy’s manufacturing sector. Prime Minister Giorgia Meloni’s Government has warned that shutting the plant would send shockwaves through supply chains, from automotive to construction. According to the complaint, forensic due diligence carried out by the commissioners found that ADI’s financial problems were not accidental but stemmed from decisions taken under ArcelorMittal’s control. The administrators allege funds were systematically siphoned away from the Italian business to its parent company, leaving the steelmaker weakened and cash-strapped. Italy’s industry min
Legal
Lowe's fined US$12.5m for alleged lead paint violations
United States home improvement company Lowe’s will pay a US$12.5 million (A$19.35 million) civil fine to resolve U.S. government allegations that contractors hired by the company failed to take appropriate safety measures when renovating homes containing lead paint. The Justice Department and Environmental Protection Agency (EPA) said the violations occurred between 2019 and 2021 and affected home renovations in 23 U.S. states, violating the EPA’s Lead Renovation, Repair and Painting Rule and a 2014 consent decree. “Careless handling of lead paint endangers the health of children and other Americans. The stiff penalty Lowe’s will pay reflects the importance of using certified firms and contractors in older home renovations,” Principal Deputy Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division (ENRD) said. Lowe’s denied wrongdoing in agreeing to Tuesday’s settlement, which includes a new consent decree. Residential lead-based paint use was banned in 1978, and firms renovating older homes must use certified firms and renovators to minimise residents' potential exposure to lead paint chips and dust. Lowe’s allegedly failed to warn the resident about the risks
Legal
Trump backs ending quarterly earnings reports
United States President Donald Trump has said companies should not be required to provide quarterly earnings reports, claiming a switch to semiannual reporting would save money. This would be subject to approval by the Securities and Exchange Commission (SEC), and could be altered either by the SEC or by Congress. Trump previously asked the SEC to study a potential change during his first term, though no change was made. “Subject to SEC Approval, Companies and Corporations should no longer be forced to ‘Report’ on a quarterly basis (Quarterly Reporting!), but rather to Report on a ‘Six (6) Month Basis,’ he wrote on Truth Social. “This will save money, and allow managers to focus on properly running their companies.” The SEC said it was “prioritising this proposal to further eliminate unnecessary regulatory burdens on companies”, at Trump’s request. The agency said earlier in 2025 that it was considering possible rule changes to “rationalise disclosure practices”. The Long-Term Stock Exchange, a shares trading venue, also said last week that it would ask the SEC to shift to semiannual reporting requirements. The SEC first began requiring quarterly reporting in 1970, increasing from semiannual reporting. A re
Legal
The Founders: Melanie Vairawanathan's unique take on law
As a mother and first-generation immigrant, Melanie Vairawanathan has a unique view on how to combine life and work. Vairawanathan completed her secondary education in Colombo, Sri Lanka before moving to Melbourne to complete her Bachelor of Laws at Monash University, before becoming a lawyer in 2013 and climbing the ladder. She then started her own firm, Melmark Law, with a passion for providing support for victims of family violence, where she recently won Gold in the Legal Services category at the 2025 AusMumpreneur Awards.Starting her own businessVairawanathan’s first reason for entering the A$33.6 billion Australian market was to create more work-life balance when starting her family. “I've got a really good support system,” she says. “Thing is, you need a village and I’ve got a very supportive partner, and my mum was with me for the first nine months after the baby was born. “I've got very like-minded, amazing ladies who are there to back me through everything.”Credit: UNTMDWith her experience of living through an abusive relationship and being a first-generation immigrant from a vibrant Sri Lankan household, Vairawanathan decided to focus on family law, where she felt she could add a personal touch. “I've
Legal
Guilty plea entered in ASIC pump-and-dump case
ASIC has secured guilty pleas from four individuals involved in a "pump and dump" case. The term refers to a coordinated scheme where share prices are inflated before being sold at new and inflated prices. Larissa Quinlan, Kurt Stuart, Emma Summer and Syed Yusuf all pleaded guilty in the Downing Centre Local Court yesterday, to charges of conspiracy to commit market rigging. They also admitted dealing with crime proceeds. Quinlan, Stuart and Summer were involved in the conspiracy to commit market rigging between August 2021 and about September 2021, and Yusuf later on in September. They face a maximum penalty for conspiracy of 15 years’ imprisonment and a fine of over $1 million. The case will next head to Sydney District Court on July 21 to obtain a date for a sentence hearing. "ASIC takes breaches of the market manipulation rules very seriously and as demonstrated in this matter, we will not hesitate to take enforcement action where appropriate", said ASIC Chair Joe Longo on the guilty pleas.

Legal
The Founders: Gallant Law helps with 'holistic' approach
The Founders showcases the inspiring journeys of visionary entrepreneurs who turned ideas into thriving businesses. Dive into captivating stories and insightful interviews with founders and CEOs, as they share their challenges, triumphs, and industry insights in this ongoing series. To criminal lawyer Lauren Cassimatis, supporting your clients shouldn’t just stop at the courtroom. Cassimatis founded Melbourne-based Gallant Law in 2019, specialising in “holistic legal services”. “We don't just think about our clients’ court cases, we think about their future,” she tells Azzet. Once a one-person operation, the firm now has three offices across Victoria, as well as in Brisbane, Sydney, and Launceston. All legal practice areas saw demand grow in Australia over fiscal year 2024, with demand in Melbourne up 9% year-on-year. Overall industry revenue is expected to reach A$33.6 billion in 2025.Gallant’s launchCassimatis started Gallant Law in her 15th year as a lawyer. At the time, she was in a management role at Victoria Legal Aid, specialising in serious offences on the Indictable Crime team. “I started to notice the gaps in terms of legal representation and customer service,” says Cassimatis. More could be done to addres
Legal
WeightWatchers voluntarily files Chapter 11 bankruptcy
WeightWatchers has filed for bankruptcy after 62 years of revolutionising diets for millions. The company voluntarily entered Chapter 11 to “bolster its financial position” and increase investment flexibility in its strategic growth initiatives. It will also eliminate US$1.15 billion in debt from the company’s balance sheet. WeightWatchers has also assured its over three million customers worldwide that the bankruptcy will have no impact on operations. After eliminating its debt, it will reemerge in about 40 days as a publicly traded company. WeightWatchers CEO, Tara Comonte, said the decision will give them more freedom in the ever-changing weight loss landscape. “The decisive actions we’re taking today, with the overwhelming support of our lenders and noteholders, will give us the flexibility to accelerate innovation, reinvest in our members, and lead with authority in a rapidly evolving weight management landscape,” she said. “As the conversation around weight shifts toward long-term health, our commitment to delivering the most trusted, science-backed, and holistic solutions — grounded in community support and lasting results — has never been stronger, or more important." The debt is a result of failing to
Legal
Federal Court: Two ex-Star execs hit with $240k in fines
While proceedings are still ongoing against nine other Star officers and directors, two former Star Entertainment Group directors received penalties in Federal Court today. The group’s former chief casino officer Gregory Hawkins was ordered to pay a $180,000 penalty and was disqualified from managing corporations for 18 months. Former chief financial officer Harry Theodore was ordered to pay a $60,000 penalty and disqualified from managing corporations for nine months. It’s understood that both former directors pleaded guilty in the action brought against them and 9 other current and former directors and officers of Star in December 2022 by the regulator the Australian Securities and Investment Commission (ASIC) for alleged breaches of their duties under s180 of the Corporations Act. The action against Hawkins included approving an agreement between Star and the gambling junket Suncity in 2018, which provided Suncity exclusive access to a private gaming room in the Sydney casino known as "Salon 95" when he knew that Suncity's representatives exposed Star to the risk of breaching the law. Meanwhile, Theodore was found to have breached the Corporations Act by failing to prevent Star from sending corresponden
Legal
Court action against ex-Star directors is a wake-up call
Two days in and the Sydney-based Federal Court case by ASIC into the actions of former Star board members is already being seen as a potential test case on “directors' duties” that all boardrooms will be watching closely. Day one of what’s expected to be a six-week affair saw ASIC allege that between 2017 and 2019 10 former directors of Star Entertainment breached their duties under the Corporations Act. The corporate regulator’s lawyer Ruth Higgins SC claims Star’s top brass not only failed to address but also enabled money laundering and criminal associations at its casinos. Higgins told the court that Star’s leadership team's failure to "live up to standards could result in the loss on casino license that the Star group depended". "The risk of criminal infiltration that inheres in running a casino is widely known, obvious and of long-standing, and the need for scrupulous probity and honesty to prevent that infiltration is widely known, obvious and of long-standing,” Higgins said. Directors allegedly behaving badly Colourful examples included alleged references to bags of $50 notes tied with elastic bands, hidden from CCTV cameras, and cheques made out in cash. It’s also alleged that money was also delivere