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The Australian Securities and Investments Commission has scored a victory in its long-running case against GetSwift, with the Federal Court finding the company and its directors breached the Corporations Act and ASIC Act through their "public relations-driven approach" to announcements on the Australian Stock Exchange.
Indonesia's PT Garuda has withdrawn a challenge to a $19 million penalty imposed for its part in a global airline cartel, but the airline has reached an agreement with the ACCC to pay the fine in instalments.
The Acting Attorney-General has made two appointments to the Federal Court, including the barrister representing ASIC in its high-stakes cases against Rio Tinto and GetSwift.
GetSwift has triumphed in its bid to disqualify a judge who refused to recuse himself from hearing a shareholder class action against the logistics software company after presiding over ASIC's civil penalty proceeding against the company.
GetSwift has been criticised for its "quite unfair attack" on a Federal Court judge who refused to disqualify himself from hearing a shareholder class action against the logistics software company after presiding over ASIC's civil penalty proceeding against the company.
Last-mile logistics software company GetSwift has ceased trading on the ASX after its relocation to Canada got the greenlight by the Federal Court and FIRB despite the company facing ongoing litigation in Australia.
A judge has ordered the winding up of a managed investment scheme operated by Perth businessman Chris Marco and his company AMS Holdings after investors allegedly lost more than $200 million.
A judge has found that a plan by last mile logistics software company GetSwift to relocate to Canada in the midst of ongoing civil litigation would not "disproportionately prejudice" ASIC, which is seeking penalties against the company.
A judge has indicated she will approve GetSwift's plans to relocate to Canada, despite concerns raised by ASIC, but will wait until the company has received approval from the Foreign Investment Review Board.
A judge has vacated a seven-week trial in proceedings brought by ASIC against two former Rio Tinto executives to March or April 2022, after they requested a "lengthy delay" to ensure a COVID-19 vaccine would be available before they travel to Australia for trial.