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Legal advice in spotlight as ASIC claims financial services firm diverted funds to limit penalty
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.
Mecca’s distribution agreement with lux cosmetics brand not unlawful, court finds
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.
Judge stays Victorian suit over alleged conspiracy to undermine HungryPanda’s EASI acquisition
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.
Cosmetics brand Mecca wins contract spat with Hourglass over COVID-19 closures
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.
CBA hit with $5M penalty for overcharging customers
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".
ASIC’s proposed $5M penalty against CBA ‘on the light side’, judge says
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.
IOOF execs slam APRA for last-minute discovery as trial looms
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.
IOOF says APRA should be able to state its case after 3-year probe
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.
Cargill wins bid to call King & Wood Mallesons solicitor as a witness
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 points finger at ex-employees in trial over $420M Joe White sale
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.