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A judge has ordered trustee United Super to pay $23.5 million after admitting it was liable for excessive delays in processing $20 million in death and disability claims.
The trustee for super fund Cbus has agreed to pay a $23.5 penalty after admitting liability in the corporate regulator's case over excessive delays in processing $20 million in death and disability claims.
Super fund Cbus has made admissions in the corporate regulator's case over long delays in the processing of $20 million in death and disability claims, with the action to progress directly to penalty.
A judge has rejected all but two claims by ASIC in a suit against car finance provider Money3 and criticised how the regulator ran its case, saying it had consumed an "inordinate and disproportionate amount of the judicial and administrative resources of the court".
The judge hearing ASIC’s case against super fund Cbus has criticised the practice of exchanging concise statements and responses, saying it was a “false economy” of time and cost savings.
The superannuation fund of the construction industry has been hit with ASIC enforcement action, accused of long delays in processing the death and disability claims of thousands of members.
Glencore-owned Viterra must pay indemnity costs to four Joe White employees it dragged into a 10-year feud with Cargill over the $420 million sale of the Joe White business, after a judge found its claims against them were “hopeless from the outset".
Glencore-owned Viterra has failed in its bid for High Court leave to challenge a ruling in a 10-year battle with Cargill over the 2013 sale of malt producer Joe White, leaving the grain producer to fork over damages of almost $300 million.
Glencore-owned Viterra has taken its 10-year fight with Cargill to the High Court after an appeals court upheld a judgment putting it on the hook for almost $300 million in damages for misleading representations in the sale of malt producer Joe White in 2013.
In a decade-old dispute, Viterra has lost an appeal of a judgment holding it liable to pay Cargill Australia $293 million for misrepresentations about the performance of its malt producer Joe White, which it sold to Cargill for $420 million in 2013.