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Sleeping Duck shareholder rejected $4M settlement in failed oppression suit
Securities 2024-09-04 11:32 pm By Andy Sidler

A Sleeping Duck shareholder has been ordered to pay the company’s costs on an indemnity basis in its failed oppression suit, with a judge finding that its decisions to reject Sleeping Duck’s buy-out offers of roughly $4 million were unreasonable.

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Melbourne Football Club defeats member’s challenge to board election rules
Sports 2024-08-22 11:37 pm By Andy Sidler

Legal action by a Melbourne Football Club member challenging the AFL club’s board election rules has been dismissed, with a judge finding the rule banning campaigning by candidates is not oppressive as alleged.

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Mattress company Sleeping Duck prevails in shareholder’s oppression lawsuit
Retail 2024-06-17 3:22 pm By Christine Caulfield

Sleeping Duck has defeated a minority shareholder’s case accusing it of engaging in oppression, with a judge rejecting claims the mattress company’s two founders diluted the shareholder’s interest and rejected commercially unreasonable offers to sell.

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Legal advice in spotlight as ASIC claims financial services firm diverted funds to limit penalty
Financial Services 2023-05-09 11:28 pm By Gareth Baker

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.

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Mecca’s distribution agreement with lux cosmetics brand not unlawful, court finds
Contracts 2023-04-11 11:35 pm By Sam Matthews

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.

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Judge stays Victorian suit over alleged conspiracy to undermine HungryPanda’s EASI acquisition
Corporate 2023-03-20 2:57 pm By Sam Matthews

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.

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Cosmetics brand Mecca wins contract spat with Hourglass over COVID-19 closures
COVID-19 2021-12-02 4:23 pm By Miklos Bolza

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.

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CBA hit with $5M penalty for overcharging customers
Financial Services 2020-06-05 4:05 pm By Cat Fredenburgh

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”.

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ASIC’s proposed $5M penalty against CBA ‘on the light side’, judge says
Financial Services 2020-06-04 12:33 pm By Miklos Bolza

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.

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IOOF execs slam APRA for last-minute discovery as trial looms
Financial Services 2019-06-06 7:47 pm By Amelia Birnie

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.

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