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Financial adviser drops defence in ASIC’s bad advice case against IOOF unit
Caroline Kenny 2021-03-02 3:00 pm By Christine Caulfield

A former financial planner of IOOF unit RI Advice, who has been accused by ASIC of pocketing hefty commissions from clients steered to risky investments, has abandoned his defence on the second day of trial.

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Fair trial may not be possible for adviser targeted by ASIC in IOOF unit case, court told
ASIC 2021-03-01 9:57 pm By Christine Caulfield

A financial adviser at the centre of ASIC’s bad advice case against an IOOF unit might mount an argument that a fair trial is not possible because of his “fulsome” answers to investigators during a compulsory examination.

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Arrium ‘bled cash’ from banks prior to $2.8B collapse, court told
Amy Munro 2021-03-01 3:04 pm By Miklos Bolza

Directors of steel producer Arrium continued to borrow money from “vulnerable” lenders in the months prior to the company’s $2.8 billion collapse and “bled cash” despite the inevitable end, a number of lenders have said on the first day of a 40-day trial in the NSW Supreme Court.

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ASIC proves prescient with failure of mediation on eve of IOOF trial
ASIC 2021-02-26 9:52 pm By Christine Caulfield

ASIC’s warning about the futility of mediation with an IOOF subsidiary has proved prophetic, with talks last week failing to resolve the regulator’s case ahead of trial starting Monday.

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‘Completely futile’: ASIC resists mediation push from judge concerned about cost of IOOF trial
ASIC 2021-02-08 12:25 pm By Spencer Fowler Steen

A judge has ordered ASIC to enter mediation before heading into a “very expensive” trial with an IOOF subsidiary accused of giving shonky advice, over objections from the regulator that mediation would be “completely futile”.

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Clock’s ticking for Mayfair companies to obtain legal representation
Ashurst 2020-12-10 2:04 pm By Miklos Bolza

Embattled Mayfair Group director James Mawhinney is under pressure to secure legal representation to defend his companies against a misleading and deceptive conduct case brought by ASIC, but the Big Six firm he has in mind has yet to commit. 

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Mayfair’s Mawhinney can’t stop trial prep in ASIC cases
Ashurst 2020-10-22 4:57 pm By Miklos Bolza

James Mawhinney, director of the besieged Mayfair Group, has lost his bid to slow down two proceedings filed by ASIC which he claims will have a “catastrophic” effect on his business, staff and investors.

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No relief: AFT appeals Reckitt-Benckiser win over Maxigesic ads
Alastair Vincent 2020-10-21 4:12 pm By Christine Caulfield

The maker of pain killer Maxigesic is taking its long-running battle with Nuromol manufacturer Reckitt Benckiser to an appeals court after a recent ruling that its advertising misled consumers by claiming Maxigesic provided better, faster and more effective pain relief than paracetamol or ibuprofen.

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Freedom Foods takes US almond giant to court over souring milk deal
Albert Dinelli 2020-10-01 2:43 pm By Cat Fredenburgh

Australian food manufacturer Freedom Foods has taken US almond supplier Blue Diamond to court over a disputed licencing deal under which it sells Almond Breeze almond milk in Australia.

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Further pain for AFT as court finds new Maxigesic ads misleading
AFT Pharmaceuticals 2020-08-04 4:18 pm By Miklos Bolza

AFT Pharmaceuticals has suffered another blow over its Maxigesic advertisements, with a judge finding the marketing material misled consumers by claiming to provide better, faster and more effective pain relief than paracetamol or ibuprofen.

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