It was choppy on the ASX today, but the bourse managed to finish the day in the green. The S&P/ASX200 gained 19.60 points or 0.27% to 7,397.50, setting a.
Background - On February 21, 2022, the Full Court of the Federal Court comprising Moshinsky, Derrington and Colvin JJ, handed down judgment in LCA Marrickville Pty.
Background - On Friday October 8, 2021, the Federal Court handed down judgment in the second business interruption test case Swiss Re International Se v LCA Marrickville.
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The Star Entertainment Group Limited has withdrawn a $12 billion merger proposal with beleaguered rival Crown Resorts citing the uncertainty over the James Packer-controlled firm retaining its casino licences in the wake of royal commissions in Victoria and Western Australia.
Star said it was concerned that issues raised at the inquiry into Crown Melbourne could materially impact the business.
Credit:Louise Kennerley
“We continue to believe substantial benefits could be unlocked by a merger, however the uncertainty surrounding Crown is such that The Star is unable to continue at the present time with its Proposal in the form as announced,” the company said in a release to the ASX.