The spotlight is back on Steve Vizard, says the Financial Review‘s Chanticleer, with the
disgraced show pony set to be summoned back to the public courtroom now that
Westpac seems to have committed to its attempts to recover about $2.4 million
from the convicted insider-trader’s broke former bookkeeper. Good luck. Meanwhile, BHP
is lawyering up, appointing Sydney-based Freehills partner Geoff Heeley
to investigate the miner’s part in the oil-for-food scandal.

As for the billion dollar C7 trial, that looks set to be
haunting the Federal Court for at least another three years, reportsThe Sydney Morning Herald.

And analysts have warned that AWB could be worth less
than half its share price if it loses its monopoly on bulk wheat exports and is
forced to pay punitive damages, reportsThe Australian.

Is Lee Ming Tee at it again? asks Matthew Stevens in the paper. Having played a central role in last year’s implosion of Sydney
Gas, Hong Kong’s notorious billionaire may well have
turned his acquisitive sights on the fledgling WA iron ore miner, Mount Gibson
Iron.

Staying on takeovers, Commander Communications’s complaint
alleging inadequate disclosure by its target, Volante Group, could ascertain
where the Takeovers Panel sits on the conflicting confidentiality requirements
of the Corporations Act and the ASX listing
rules, says Bryan Frith in the Oz.

And the Toll Holdings camp is coming under extreme and
increasing pressure to do something about the debilitating impasse it’s
reached with the ACCC and the destructive relationship it has with its joint
venture partner and takeover target, Patrick Corp, says Stephen Bartholomeusz in The Smage.

Companies will soon have to buy the electronic equivalent of
a postage stamp if they want to be certain their emails are delivered, reportsThe Age. America Online and Yahoo!,
two of the largest email account providers, are about to start using a system
that gives preference to messages from companies that pay up to US1¢ each to
have them delivered.

Up to 2100 Qantas maintenance workers are set to go to war
this morning, reportsThe SMH, when the national carrier
resumes enterprise bargaining talks with the Australian Manufacturing Workers
Union and Australian Workers Union over Qantas’s claim to slash overtime pay.

On Wall Street, US stocks closed mixed Monday as rising political tensions in the Middle East made for
cautious trading. The Dow Jones Industrial Average rose 4.65 points to
10,798.27.

Peter Fray

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