A court has appointed a referee to examine whether a law firm’s communications with Golden Financial furthered a plan by the financial advisory firm to divert assets to minimise a penalty sought by the corporate regulator in the first case alleging a breach of the so-called best interest duty.
Beauty giant Mecca has succeeded in fending off a luxury cosmetics brand’s appeal of a decision that found a term of an exclusive distribution agreement between them was not an unlawful restraint of trade.
A judge has stayed an Australian lawsuit filed by food delivery service HungryPanda against competitor Fantuan over the acquisition delivery platform EASI until a related UK lawsuit is resolved, amid a fight for control of the local Asian food delivery market.
Australian beauty and skincare retailer Mecca has triumphed in a lawsuit brought against US makeup brand Hourglass, which tried to terminate an exclusive distribution agreement because of the COVID-19 pandemic.
A judge has approved a $5 million penalty against the Commonwealth Bank of Australia for overcharging customers $8 million in fees and interest on its agricultural products, despite previously expressing concerns that the penalty was “on the light side”.
A judge has questioned ASIC’s proposed $5 million penalty against the Commonwealth Bank of Australia, saying it was “on the light side” for the bank’s conduct in overcharging $8 million in fees on its agricultural products.
Former executives of wealth manager IOOF facing disqualification proceedings by the Australian Prudential Regulation Authority have criticised the prudential regulator for a late and extensive discovery request, saying it could “imperil” the July trial date.
A barrister for two units of embattled wealth manager IOOF and three senior company executives facing claims by APRA have criticised the regulator for filing a broad concise statement and no statement of claim after a three-year investigation.
A judge has granted Cargill Australia’s request to call a King & Wood Mallesons solicitor that represented Viterra as a witness in the epic trial over the $420 million sale of Viterra’s Joe White business to Cargill in 2013.
Viterra is blaming several former employees for representations made about malt quality in the lead-up to the $420 million sale of its Joe White business to Cargill Australia in 2013.