Rebels bossAaron ‘AJ’ Graham latest bikie to be kicked out of the country

Notorious bikie Aaron “AJ” Graham is the latest bikie to be deported. Photo: Danielle Smith
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Rebels motorcycle outlaw gang boss Aaron “AJ” Graham is the latest bikie to be kicked out of after a new law was pushed through targeting organised crime figures.

The notorious bikie was deported to his native New Zealand on Tuesday, despite last month winning a High Court appeal against his second visa cancellation.

Graham, 50, whose visa was revoked on character grounds, was packed to leave Sydney’s Villawood detention centre when n Immigration Minister Peter Dutton cancelled his visa for a third time.

It came hours after a High Court ruling that Graham’s earlier visa cancellation decision was invalid.

Graham, the founding member of the Rebels bikie gang in Tasmania, was reportedly escorted on to an Air New Zealand flight in Sydney on Tuesday and flown to Auckland after being detained in the detention centre for two years.

Earlier this year, Graham, and fellow Rebels bikie Mehaka Lee Te Puia, who had his visa revoked due to his association with the outlaw motorcycle gang, successfully challenged the visa cancellations after claiming it was unconstitutional.

Mr Dutton, however, had an amendment passed to the Migration Act to stop Graham and Le Te Puia and up to 20 other people, whose visas have been cancelled, from re-entering .

Governor-General Peter Cosgrove signed off on an amendment, just hours before the High Court ruling, to ensure any other decisions on visa cancellations by Mr Dutton under the Migration Act would stand.

Among the 20 people banned from returning to was Rebels bikie boss and Brownlow medallist Dustin Martin’s father Shane, who was deported to New Zealand weeks before his son played in the AFL grand final.

Dustin Martin and his father Shane.

Mr Dutton has previously said the visas were cancelled for the safety of the n community.

“This amendment ensures that people who are outlaw motorcycle gang members, organised criminals and threats to national security cannot stay in ,” he said.

The men were extradited from based on secret information from police and intelligence services.

Mr Dutton said among the 20 people whose visas has been cancelled were “some pretty nasty characters”.

“If they’re going to harm ns I don’t understand how they can expect to stay here on their visas,” he told radio station Triple M last month.

Prime Minister Malcolm Turnbull said last month the government was “proud” of its decision to cancel Mr Martin’s visa, who he said posed a threat to .

“His [Dustin Martin’s] father has had his visa cancelled because of his criminal record and association with outlaw motorcycle gangs,” he said.

“People who are outlaw motorcycle gang members, who are criminals or threats to national security cannot stay in the country.”

Moody’s gives big ratings tick for REIT sector

Ratings agency Moody’s Investor Service has given the n real estate investment trusts (A-REITs) a clean bill of health, saying residential trusts are at cyclical peaks, while low supply of assets will underpin office rents for prime central business district locations.
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Retail landlords’ security prices have been hit due to concerns about the impact of Amazon on tenants. They are expected to increase capital spending on their shopping centres as an e-commerce future-proofing exercise.

The A-REITs with overweight office positions in Sydney and Melbourne will continue to outperform, according to the Moody’s Real Estate Investment Trusts – report.

This will be of benefit to the private April Group, which is selling its 69 Christie Street, St Leonards office tower. Knight Frank’s Tyler Talbot, Tim Holtsbaum and Dominic Ong are managing the sale and said past interest in 69 Christie Street has ranged from $50 million to $70 million.

Currently in a seven-level office building known as AMA House, with major tenants including the n Medical Association, 89.1 per cent of the strata entitlements have committed to the sale, more than the 75 per cent stipulated by recent regulatory changes.

Mr Talbot said the site is expected to draw extensive interest from both local and offshore buyers due to its strategic positioning in an area which is undergoing significant growth and transformation and has been identified as a priority precinct.

“The site is located within the new core of the transforming St Leonards mixed-use precinct, set amongst other development-approved sites which will yield prime residential towers,” Mr Talbot said.

“The withdrawal and redevelopment of B-grade office stock into new residential apartment towers will modernise the eastern flank of the St Leonards centre. A number of offices along the Pacific Highway have been rezoned to accommodate forecasted demand for residential apartments, which have set a precedent for growth in the immediate locale.”

According to the Moody’s report, in Sydney the lack of supply in central business districts will lead to further increases in office rentals, and in Melbourne population and employment growth will drive prices for the same types of property.

“Moody’s rated A-REITs with office exposure to Sydney and Melbourne CBDs outperformed their peers in fiscal 2017. We expect this trend to continue as the lack of supply leads to further rent growth in Sydney and population and employment growth drives demand in Melbourne,” the report says.

This correlates with Peter Studley, Dexus head of research’s prediction that conditions for office leasing demand in the Sydney CBD are the best in seven years. Pressure gradient

Mr Studley said the Dexus Office Demand Barometer for the quarter ended September 30 increased 2.6 per cent, up 0.2 percentage points from the prior quarter’s reading.

“The main factor driving the barometer result was an improving labour market, reflected in an uplift in ANZ job advertisements,” Mr Studley said.

O???n retail A-REITs, Moody’s says trusts with prime inner-city locations are best positioned to sustain steady rent increases in fiscal 2018. The rating agency anticipates retail A-REITs will likely increase their capital spending on mall upgrades to counter the challenges posed by online shopping.

“A-REITs with substantial exposure to residential development – Mirvac and Stockland – are at cyclical peaks in terms of development earnings and margins. Nevertheless, such REITs should continue to show strong financial metrics, underpinned by solid pre-sales,” the report says.

“We think that the current high residential development exposure is manageable for both Mirvac and Stockland. Current A3 rating for both issuers will continue to be underpinned by large high quality commercial property portfolios and high exposure to the more resilient economies of NSW and Victoria.”

Regarding industrial A-REITs, ongoing infrastructure spending in New South Wales and Victoria, coupled with positive labor market dynamics and increasing online shopping, will drive asset values and rent growth in fiscal 2018.

“We expect industrial A-REITs to benefit from the ongoing infrastructure spending of around $150 billion in NSW and Victoria over the next four years as well as positive labour market dynamics,” the report says.

“The infrastructure investment will improve access, thereby driving asset values and rents. Furthermore, the growth in online shopping will also drive demand for logistics space. “

‘Czech Trump’ Andrej Babis poised to deliver latest blow to EU order

Europe’s year of political upheaval isn’t over. In the Czech republic, a charismatic, controversial billionaire dubbed the ‘Czech Berlusconi’ – and more recently the ‘Czech Trump’ – is poised to take power.
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Hot on the heels of Austria’s hard shift to the right, this weekend’s legislative election in the Czech Republic could be another shock to the EU which is still digesting the results in France and Germany, not to mention Brexit.

In his 2017 book What I Dream About When I Happen to be Sleeping, Andrej Babis set out an agenda that would transform, and some claim destroy Czech democracy.

He wants to abolish institutional checks and balances such as the Senate and regional government, he wants to ditch proportional representation and have the country vote first-past-the-post.

While he doesn’t oppose the European Union, he has denounced EU-imposed migrant quotes and other “EU meddling”, and favours an end to sanctions against Russia.

He admires the kind of centralised power enjoyed by Hungary’s Orban, and he dislikes journalists (except the ones he employs).

He said he wants to run the country “like a family firm”.

And the people love it – or at least some do. According to the polls, Babis’ ANO party will get close to 30 per cent of the vote, while none of the seven other parties likely to get into parliament would top 15 per cent.

Those other parties include far-right populist Tomio Okamura’s Freedom and Direct Democracy, an increasingly popular group with an anti-Roma, anti-Islamic message.

Andrej Babis is the second richest person in the Czech republic, a local financial paper calculated. His agriculture and media empire is worth 88 billion crowns ($5 billion) – and his worth had doubled in the four years he’s been in politics.

But he paints himself as the foe of the elite.

“Babis is a populist,” Sean Hanley, senior lecturer in East European politics at University College London, wrote this week.

“His folksy self-presentation as the plain-spoken practical businessman finally disgusted by corruption??? taking on a decrepit and corrupt party establishment who have failed ordinary people since 1989, is textbook stuff”.

Emily Mansfield, analyst at the Economist Intelligence Unit says Babis is likely to lead coalition-building talks after the election as head of the biggest party.

But a number of controversies are swirling around him, Mansfield says. Earlier this year he was forced to place his business interests in a blind trust.

Babis was finance minister and deputy prime minister in the coalition government until May, when he was dismissed due to allegations he had avoided paying tax as CEO of Agrofert in 2012.

Since then his legal woes have deepened. Earlier this month he was charged with fraud over the use of ???2.3 million in European subsidies in the construction of his Stork Nest Farm ten years ago.

And a court case in Slovakia has reopened over his possible collaboration with the former communist secret police (though a court previously ruled there was no proof of the collaboration, and Babis denies it).

But mud just doesn’t seem to stick to him.

“He’s very charismatic,” Mansfield says. “He’s a big character with a very big public profile. The ANO movement doesn’t have much ideological basis to it, it’s very much based around Babis’ personality and his leadership.

“He’s been described as the Czech Trump, but he’ s not the kind of nationalist ideologue, he’s very much a pragmatic businessman, he’s not a nationalist or far-right leader.

“He says he wants to clear out corruption??? he’s much more technocratic and pro-business. You could perhaps compare him to (France’s Emmanuel) Macron – a charismatic anti-establishment person coming into the political scene and pretty much exploding it.”

It was primed for such an explosion. Though the Czech economy has been ticking along nicely (it has the lowest unemployment in the EU), the Social Democrats, for most of two decades the country’s biggest party, have a reputation for low-level rent-seeking.

“People have got worn down by the impression that politicians are always acting in their own interest, with business interests in the background,” says Mansfield. “Babis came in and said ‘I’m too rich to steal’. That’s attractive.”

Miroslav Mares, professor of political science at Masaryk University in Brno, says Babis is a symptom of the dissatisfaction with political development in the post-Communist country.

“This is irrational dissatisfaction, the people??? have better expectations,” he says. “Salaries are not as high as in Germany or Austria, for example. People compare themselves with these countries, they don’t compare themselves to the worse situation in other eastern European countries such as Hungary or Slovakia.

“(Babis) promises that he is able to stop the corrupt system, and people believe they will then receive more money from the system.”

Professor Mares says Babis has retained support despite his legal problems because he has presented them as a conspiracy against him.

“His supporters feel they should fight for their leader,” Professor Mares says. “On the other hand you can see lower support than one or two months ago.”

Babis is likely to be in the best position after the weekend to lead a coalition government.

Unfortunately, he doesn’t like coalitions. The necessary negotiations and compromises are neither his business nor political style, local financial paper Hospodarske Noviny wrote.

And some potential coalition partners may demand that Babis should not lead a government they join, due to the scandals hanging over him.

But whether Babis ends up prime minister or elsewhere in government, this election is likely to see another big change in Europe’s halls of power.

Netflix flags record-setting US$8 billion content spend

The streaming giant Netflix has flagged a content spend of US$8 billion next year, in a move which will dramatically boost the company’s library of “originals”.
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The move follows some recent tectonic shifting in the streaming market which has seen major brands begin to pull back their content with a view to launching their own platforms in the future.

The most significant example of that is Disney, which has confirmed plans to launch a standalone Disney-branded platform using the content library which is presently available on a number of platforms, notably Netflix.

That decision, by Disney, is expected to be the first in a line of similar moves as major studios evaluate whether it serves them to leave their content on third-party platforms, or to launch their own streaming platforms.

The new announcement also flags that Netflix is proceeding with its plan to populate its platform with at least 50 per cent original content.

Speaking to analysts, Netflix’s chief content officer Ted Sarandos said a large slice of the planned US$8 billion spend would go towards at least 80 new original feature films, and a raft of new television series.

Sarandos said the move meant Netflix would be releasing more movies than Hollywood’s three largest movie studios – Disney, Warner Bros and Universal – combined.

Sarandos also said the series would expand its international programming offering; it has recently launched its first Danish drama, The Rain, and a Swedish drama, Quicksand.

One of the most anticipated series this year is Netflix’s first German drama, Dark, which launches in December; it is also launching second seasons for its hit titles Stranger Things and The Crown, and a Will Smith feature film, Bright.

Burwood mixed-use site adds to amenity improvement program

A mixed-use development site within the Parramatta Road Precinct, Burwood, is the latest to test market interest for combined lots, with price indications said to be more than $20 million.
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The site at 318-324 Parramatta Road is poised to become part of the area’s future activation precinct, with a range of mixed-use developments.

The Greater Sydney Commission, which manages the Parramatta Road Urban Amenity Improvement Program, will work with six councils to deliver the projects in partnership.

Chief commissioner Lucy Turnbull has said the projects have strong community support.

“As Sydney grows, it will be more and more important that we enhance the liveability of our suburbs by creating great spaces where people will want to live and work and are encouraged to get out and walk or cycle or relax in well-designed opened spaces,” Ms Turnbull said.

The Burwood site encompasses four separate lots accommodating three detached commercial dwellings on a 3664-square-metre parcel of level land, with frontage to Parramatta Road.

Agents advising on the sale, Neil Cooke, Stuart Cox and Johnathon Broome of Savills , said a concept scheme had been prepared for the property, allowing for 104 residential apartments and ground-floor retail space.

Mr Cooke, director of residential site sales at Savills , said while that whilst the zoning and floor space ratio were achievable, the best potential outcome would be to reduce the building footprint and provide additional height.

Stuart Cox, director of residential site sales at Savills , said he expected to receive interest from offshore and local investors looking to take advantage of the urban transformation strategy.

Coronation Property has also launched its latest residential site at Harris Park, Parramatta, called Charlie Parker.

It will span 22 storeys, including an open-air pool and gym on the terrace level, and will comprise just 111 apartments. Coronation Property has partnered with Francis-Jones Morehen Thorp architects.

In East Sydney, a commercial site at 58 Riley Street, due for completion in December, will offer 625 sq m of mixed-use commercial and a ground-floor hospitality tenancy.

The original 1930s building’s original saw-tooth retaining walls and two-level facade, is being reinvented into a six-level, formed-concrete, warehouse-style commercial space.

Peter Metzner, owner of the site and newly launched ARC Property, bought the building in 2005 and has engaged Gunning’s Tom Speakman and Oxford’s Shane Blackley as the managers.

Complaints peak with 160 per cent rise driven by NBN woes: Ombudsman report

A 160 per cent increase in complaints about services under the National Broadband Network and a 43.5 per cent rise in those about Telstra by frustrated customers caused a spike to 158,016 in complaints to the Telecommunications Industry Ombudsman (TIO) in the past financial year.
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Just under 50 per cent of all complaints were about Telstra, while another 20 per cent concerned the NBN, found the Ombudsman’s annual report being released today, which showed consumers are paying a big price for the rollout of the national network.

Not since 2012/13 have so many ns been unhappy with their phone and internet service, found the Ombudsman’s 2016/2017 annual report to be released on Wednesday, October 17.

The Ombudsman Judi Jones is the last resort for consumers and businesses who have been unable to resolve issues directly with their telephone or Internet provider.

The report said the office had recorded nearly 64,000 complaints about internet services, a 65 per cent increase, while 52,300 people griped about their mobile phones, a 27 per cent increase.

It was the first time that complaints about internet service exceeded those about mobile phones, said Ms Jones.

“We are frustrated when we cannot rely on technology to stay connected, to be informed and to do business,” she said.

“Sharing high quality videos immediately, holding online meetings online and watching Netflix on the way home is now the norm, and part of our daily routine,” she said.

Failure to resolve customer service issues was the number one reason that customers asked the TIO to intervene.

Narelle Clark, the deputy director of the n Communications Consumer Action Network (ACCAN) said a huge increase in customer service problems across all services showed improved consumer protections was needed.

“Many consumers are being left with no connection or a service that is completely unusable. This is not acceptable and it’s clear there is an urgent need for updated consumer guarantees. Considering the rollout of the NBN has reached scale and more consumers are making the switch, this must change,” added Ms Clark.

Given the huge number of complaints, and the spike reversing the previous’ few years downward trend, there was a need for improved consumer protection, especially in the areas of sales, service and contracts, billing, credit and debt management, changing suppliers, and complaint handling.

While more complaints were to be expected about the NBN during its rollout, Ms Jones said the large increase in unhappy customers was a cause for concern.

Many were caused by the rollout of the network: Telstra is migrating its network customers to NBN, and about one in five of its complaints recorded related to the NBN. About one in eight complaints about Optus also related to the NBN.

Telstra attributed some of its customer complaints to the “20,000 customers it is moving to the NBN every week” . And NBN pointed out that the Ombudsman does not distinguish between complaints that are its responsibility to resolve and those that are the responsibility of the retail service provider, such as Telstra, to resolve. Hey @Optus I’m paying for 100Mb/s but speedtest gives me 3.04, should I pay 3.04% of my bill? #floptus#speedtestpic.twitter苏州夜总会招聘/BHjWT92kNp??? Optus Speed Test (@OptusSpeedTest) October 7, 2017Just an idea. Telstra CEO & NBN CEO should spend a day in the call centres answering customer calls. Have a nice day.??? Peter Morgan (@psimpsonmorgan) October 16, 2017Sunday. No NBN for kids or my law research homework. Makes 11 days out of 14 @TurnbullMalcolm NBN @Telstra fail. #justhopeless#auspolhttps://t苏州夜场招聘/EFl9adrVId??? chris murphy (@chrismurphys) October 14, [email protected] my phone won’t make text or call it’s keeping saying searching or no service please fix it I have try everything pic.twitter苏州夜总会招聘/AHyZ5mERFu??? Tayla Gould (@TaylaGould4) October 16, 2017

The inner-city spot where hipsters feared to tread, until maybe now

Melbourne Bicycles in Clifton Hill “Yeah, nah.” It’s probably how every hipster in town responds to the words “Clifton Hill”. It’s just not that kind of suburb.
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Yet it’s surrounded by Melbourne’s hipster heartland: Collingwood (Clifton Hill was actually once called East Collingwood), Fitzroy North, Fitzroy and Northcote. They’re all a tram or train stop away. So how exactly did this ‘burb remain hipster free, and will that change?

I ask Stewart Kyle, agent with Nelson Alexander Fitzroy, if it’s getting an edge. “To be honest, not quite yet,” he replies. “You get a lot of young families with kids. Parkville and Clifton Hill are very similar.”

He’s selling a warehouse apartment at 2/41 Dally Street, in the heart of leafy Clifton Hill, this Saturday (for the second time – it passed in three months ago). It’s the perfect hipster house.

So who’s looking? “Mostly first-home buyers are in that bracket,” says Kyle. The bracket for this property is quite clear: unusually, it’s being advertised with its reserve price, $900,000. So who’s keen? “Some investors, but it’s mostly young couples,” says Kyle. “Some are already living in the area, but there’s a lot of interest from people in Ivanhoe, Glen Iris, as well as Northcote, Fairfied and Thornbury. They’re looking to be closer to the CBD, and for tree-lined properties along parks, and Fitzroy North is too expensive.”

If the buyers are looking for that inner-city lifestyle, will they be disappointed in Clifton Hill? The Clifton Hill side of Queens Parade looks promising (the other side is Fitzroy North). Birkenstock has opened up a huge store. There’s a new corner pub ??? Clifton Hill Brewpub ??? brewing its own beer.

Head towards Smith Street and you’ll spot a rejuvenated Melbourne Bicycles at 37 Queens Parade. This is the home of the kids ByK bikes and what was, once, ‘s biggest selling bike store. ByK inventor Warren Key bought the shop from his parents ten years ago, and has flipped the aging 40-year-old shop over the past few months. It’s now got that spruced up modern warehouse look, outside and in.

Key remembers Clifton Hill when it was factory central. “The family business started in 1978, and I started in early ’80s. All the spots in the back were factories making things; the hardware store on the corner [of Smith Street] was a shed storing coal for hospitals! It didn’t change until the mid ’90s.” According to Key, Clifton Hill used to be a transient place where people could afford to live and study.

“People could live here and be part of something else, now it’s a seemingly wealthy suburb. The affordability has gone through the roof,” says Key. He brought in Malachi Moxon to lead the internal and external change of the store, which had a grand reopening last week. “It’s a good community store,” says Moxon. “I wanted to make it loveable again.”

This suburb really does put the “c” into community. There’s always something for the locals to get het up about. Recently it was the proposed East West Link, a road joining the Eastern Freeway at Clifton Hill with the Western Ring Road.

Locals are now cross about plans for Sambell Lodge, a low cost aged care facility on Gold Street, which will result in the demolition of the St Andrews Church (circa 1905).

A plan for a 16-storey apartment block at 26-56 Queens Parade (on the Fitzroy North side) raised the ire of many, with fears it would overshadow Edinburgh Gardens. It, and another development at 249-265 Queens Parade, are “pending VCAT”, according to Yarra City Council. Developers seem very keen to bring new “residential opportunities” to Clifton Hill. But whether the residents agree is another thing. Five things you didn’t know about Clifton HillClifton Hill Railway Station is the joining point of the South Morang and Hurstbridge lines.The Merri Creek Trail (and Merri Creek itself) forms one of the ‘burb’s borders.It shares the 3068 postcode with North Fitzroy.It’s home to two in-demand primary schools: Clifton Hill Primary School (aka Gold Street) and Spensley Street Primary School.According to Domain Group data, the median price for a house here is $1.28 million.

RBA watching surging power prices but not alarmed

The Reserve Bank is keeping a close eye on rising electricity prices, but does not expect the surge in household energy bills to substantially drag on consumer spending, a senior official says.
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With many consumers facing electricity price increases of between 10 and 20 per cent compared with a year ago, the RBA’s assistant governor of economics, Luci Ellis, on Tuesday said the rises were likely to contribute to inflation.

“It is something we’re watching,” Dr Ellis said at the Citi investment conference in Sydney. “We have stated publicly that we do expect that retail electricity prices will be adding to the CPI.”

Even so, Dr Ellis also played down the overall impact on spending, given that for most consumers, energy costs still account for a fairly small proportion of the budget.

As a result, the sharp rises in prices are unlikely to trigger a significant decline in consumer spending.

“I think one of the things that I’ve observed over the years is that you often have a lot of focus on the big-ticket items that are ostensibly going to make households feel poorer, but then you look at the numbers, and for most households, energy costs are about 4 or 5 per cent,” she said.

“For low-income households it is higher, that is true. But this is not a dominant factor within household spending.”

Alongside rising electricity costs, households are also facing weak wages growth and high levels of underemployment, which has caused some economists to predict consumer spending will weaken over coming quarters.

Dr Ellis indicated there was more uncertainty over how rising electricity prices could affect business investment, and she said the central bank was working “very intensively” with businesses on how the cost of energy affected decisions on whether to invest. Higher electricity costs could be significant relative to profit margins, she said.

“While for most businesses electricity is a relatively low percentage of their overall costs, when we look at that relative to margins, it may well be much greater,” Dr Ellis said.

Dr Ellis was speaking on a panel alongside chief executive of the Business Council of Jennifer Westacott, who reiterated the lobby group’s argument that lower corporate taxes were needed to drive business investment.

However, Dr Ellis played down the impact of corporate tax cuts on domestic investors, saying the corporate tax rate was “irrelevant” because of ‘s system of dividend imputation. This policy, which is unusual internationally, means domestic investors receive a tax credit for company taxes already paid.

“From the perspective of the domestic investor, the corporate tax rate is irrelevant, it really just doesn’t matter because you get it back anyway through dividend imputation. It really only matters if you’re a foreign investor making the choice to invest in versus another economy,” Dr Ellis said.

Brawl looms at Brambles AGM as class action launched

Embattled logistics giant Brambles faces a fresh challenge in the shape of a potential $100 million class action over alleged failures to keep investors informed.
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Brambles, which is a global pallet giant that operates in more than 60 countries, faces the prospect of a Maurice Blackburn-led class action that will allege the company failed to keep investors informed about its true financial position leading into the early months of this year.

With the support of British litigation funder Harbour, Maurice Blackburn argues that Brambles had misled investors when it reaffirmed earnings guidance for the 2017 financial year in October of 2016.

Brambles indicated in January, about 11 weeks later, that it would not meet that guidance, triggering a 15.8 per cent fall in its share price, then a month later it again downgraded guidance, sparking a further 9.9 per cent fall.

At its result, in August last year, Brambles provided guidance of sales growth of up to nine per cent and profit growth of up to 11 per cent for the 2017 financial year.

It reaffirmed that guidance its annual general meeting in November where chairman Stephen Johns told investors that the outlook for both measures “remains unchanged”.

“We remain committed to the five-year targets we set in December 2013 and our ongoing business strategy,” Mr Johns told investors at that meeting.

The miss was blamed on a softer than expected performance out of Brambles’ North American business.

The court case will do little to improve the mood of angry investors at this year’s annual general meeting.

It is understood there is a good chance the company will cop its first strike against its remuneration report from investors at its annual general meeting on Wednesday.

At the meeting Mr Johns is standing for re-election to 2020, meaning he will have served for 16 years at the end of his term, but is likely to attract a hefty protest vote of up to 20 per cent against his re-election.

Typically a chairman seeking re-election would expect to attract up to 98 per cent support, one source said.

Maurice Blackburn class action principal Brooke Dellavedova said the firm would assess investor interest and the merits of the case before lodging a formal action.

“It is difficult to say what it might be worth, but looking at the trading volume and the price drop, I would expect it to be in that $100 million ball park,” she said.

The investor reaction to the guidance downgrade was “severe” with trading volumes on “both occasions around five times greater than average volumes over the previous year”, she said.

“The intensity of the trading was a clear indication that the market was shocked, which is understandable given the strong affirmation of its forecast only weeks before downgrading its guidance,” Ms Dellavedova said.

“When you look into how the logistics company operates, it seems unfathomable that there weren’t earlier triggers to alert the company to the sales and profit changes that were eventually disclosed.

“The laws are clear on disclosure, the market needs to know as soon as the company knows in order for the market to function fairly and efficiently.”

The company has cited “destocking” retailers and a changed competitive environment as causing problems in North America, but Ms Dellavedova said both those trends were apparent when the guidance was reaffirmed in October last year.

“The de-stocking didn’t happen overnight at the end of December … and the changes to competitive pressure had been coming for some time,” she said.

Brambles declined to comment. The class action will be open to Brambles shareholders who purchased shares between October 20, 2016 and February 19, 2017.

What is the ideal settlement period in Queensland?

Property settlement time frames can be one of those elements of a transaction that are often overlooked.
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But is there such a thing as an ideal settlement period in Queensland and what about during times of tighter lending environments such as today?

Hot Property Buyers Agency’s Zoran Solano said that settlement periods could be a useful negotiation tool, especially if the seller needed more time to find somewhere else to live.

“Thirty days is the standard time frame and that still remains the case,” he said.

“But what buyers need to also do is to ask the question to the seller or the selling agent, because I’ve had instances in the past where 30 days is entirely too much of a headache for the seller.

“Maybe, in fact, rather than offering more money or a short settlement, you’re actually better off to have a longer settlement.”

Solano said that tighter lending conditions also made it imperative that home buyers and investors gave themselves enough time to complete all the paperwork.

In days gone by, he said, 30 days would probably do the settlement job, but with more financial hoops to jump through, more time was probably better than less. Related: Which Brisbane train line is the most expensive?Related: First Gold Coast price fall in three yearsRelated: Brisbane house prices go backward again

“Time frames are really, really important. In an ideal world, 45 to 60 days gives you acres of time. You’re not stressed with 45 days or more,” he said.

“As a buyer, especially in Queensland, you need to make sure that you’re doing everything possible in order to meet settlement so you don’t get penalty interest charges or the contract isn’t terminated by the seller.”

Brett Warren, a property strategist with Metropole, said that negotiating the settlement period was a valid way to improve your chances of success.

In fact, he had been the victor for his clients with less money on the table by understanding the seller’s requirements.

“Our clients and most investors are happy to put it out to 60 or 90 days to accommodate someone. It’s not always about price,” he said.

“People sometimes overlook that and think if they give them a shorter time frame that’s better for them. They just assume it is, but in some cases it may not be.”

But it was unwise to stretch out settlement periods for too long, he said, because market conditions could change and that can make lenders nervous.

“If you’re doing a standard 30, 60 or 90-day settlement, banks are usually OK with that because the conditions are generally within two or three months,” Warren said.

“Once you start to get out to six months, the conditions can dramatically change. If you’re going for longer than a 60 or 90-day settlement, we’d always check with the financier to say, ‘Are we OK to have a six-month settlement?’ “