Australia’s largest potato wholesaler Mitolo Group will pay a penalty of $240,000 to resolve the consumer regulator’s case alleging its contracts with growers were unfair.
A court has taken an ax to the final bill by liquidators of three failed subsidiaries of multi-national agribusiness SK Foods Group, lopping off 30 per cent after a successful intervention by the corporate regulator, which called the more than $5.7 million claimed by the liquidators excessive.
A $5.8 million bill for four years’ work by the liquidators of SK Foods unit Cedenco has been criticised by a judge as “outside the band of reasonable remuneration” and will have to be recalculated.
Australia’s largest potato wholesaler Mitolo Group has hit back at allegations by the ACCC that its contracts with growers were unfair, telling a court the terms were open to negotiation and were necessary to protect the company’s intellectual property.