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Buscopan cartel yields $2M penalty, landmark sentence for exec
ACCC 2022-11-29 4:01 pm By Cat Fredenburgh

A judge has hit Alkaloids of Australia with a nearly $2 million penalty for engaging in cartel conduct and sentenced its former export manager to a term of imprisonment for his involvement in fixing prices for a key chemical in anti-spasmodic drug Buscopan.

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High Court to weigh in on penalties for foreign bribery violations
Appeals 2022-11-17 11:49 pm By Cat Fredenburgh

The High Court has agreed to hear prosecutors’ appeal of a “manifestly inadequate” $1.35 million penalty against an engineering firm for bribing foreign officials in Vietnam to secure $10 million in infrastructure contracts.

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A ‘sorry history’ of non-compliance: Judge tosses underpayments class action
Christopher Tran 2022-11-15 11:29 pm By Christine Caulfield

A judge has thrown out an underpayments class action against NSW not-for-profit Life Without Borders for failure to advance the case with due diligence and slapped the lead applicant with costs for his “unreasonable” acts during the course of the proceeding.

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Alkaloids export manager should face prison for cartel conduct, court told
Ashurst 2022-09-16 11:12 pm By Cindy Cameronne

The federal prosecutor has argued that the former export manager of pharmaceutical ingredient producer Alkaloids of Australia should serve prison time after pleading guilty to cartel conduct over the supply of a key chemical in generic stomach cramp drugs.

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ACCC appeals ruling on Retail Food Group sample stores
ACCC 2022-09-09 12:23 pm By Cat Fredenburgh

The Australian Competition and Consumer Commission has appealed a judgment that found its case alleging Retail Foods Group misled franchisees should be run using a sample of stores.

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Drug ingredient maker Alkaloids faces $30M penalty for ‘actively policing’ cartel
Ashurst 2022-09-05 11:32 pm By Cindy Cameronne

Pharmaceutical ingredient producer Alkaloids of Australia is facing a maximum $30 million penalty but has argued it should pay less than $1 million after pleading guilty to cartel conduct over the supply of a key chemical found in generic stomach cramp drugs.

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Over ‘intransigent’ ACCC, judge says Retail Food Group case can be decided with store sample
ACCC 2022-08-19 11:20 pm By Sam Matthews

A judge has ordered that the ACCC’s case alleging Retail Food Group misled franchisees be run on a sample basis, saying the regulator’s opposition to the idea “smacks of a lack of confidence in its own case.”

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No hard time limit on criminal charges against ME Bank, prosecutors say
ASIC 2022-05-18 1:09 pm By Christine Caulfield

Challenging a ruling that tossed half the charges brought against direct bank Members Equity, prosecutors have told an appeals court the ASIC Act does not impose a strict deadline for bringing a criminal case of misleading or deceptive conduct.

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Viterra to pay $168.9M for misleading Cargill during Joe White sale
Agriculture 2022-02-17 2:05 pm By Cat Fredenburgh

Grain producer Viterra will be ordered to pay Cargill Australia $168.9 million after a judge found the Glencore-owned company  misrepresented the performance capabilities of malt producer Joe White when it sold the company for $420 million in 2013.

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Ill-fated cartel case shows ACCC should stay out of financial markets, ex-Deutsche Bank CEO says
ACCC 2022-02-11 7:23 pm By Cat Fredenburgh

The CDPP’s decision to drop all criminal cartel charges against two banks and four individuals in a “test case” over a $2.5 billion ANZ share placement shows the ACCC “lacks expertise and objectivity” on the financial markets and should leave them to ASIC to regulate, according to one of the former accused.

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