Justice Ian Jackman

A judge has ordered credit card giant American Express to pay $8 million in ASIC’s first-ever case over design and distribution obligations, but has criticised the recently enacted provisions as being “poorly drafted”. 

The ACCC has secured $6 million in penalties against wealth education company DG Institute and its CEO Dominique Grubisa, as well as orders that the company refund $14.7 million in course fees to customers who enrolled in its ‘Master Wealth Control’ program.

Noumi has agreed to pay a $5 million penalty for violating its continuous disclosure obligations in a case brought by the corporate regulator, but the applicant in a shareholder class action against the food company says the sum should be reserved to compensate group members. 

Food giant Goodman Fielder has won freezing orders against a former employee who the company suspects of a $10 million fraud and issued a slew of subpoenas to betting firms the employee holds accounts with.

In a loss for the Australian Taxation Office, the Full Federal Court has found that payments made by Asahi Breweries-owned Schweppes to PepsiCo under agreements to sell brands such as Pepsi and Mountain Dew in Australia were not subject to a royalty withholding tax. 

Brisbane restaurant Establishment 203 has hit back at a trade mark suit brought by Sydney hospitality mogul Justin Hemmes, telling a court that his ‘Establishment’ trade mark should be canceled.

ASIC has wasted no time in appealing a judge’s decision to excuse cryptocurrency product provider Block Earner from paying a civil penalty on the basis that it took advice from a leading law firm that was not seen by the court. 

A judge has excused cryptocurrency product provider Block Earner from paying a penalty in a case brought by ASIC, despite finding it provided a financial product without a licence, because it obtained legal advice and genuinely believed it was not breaching the law.

A judge has blasted energy broker Energy Action’s bid for interim orders enforcing a confidentiality agreement against a former employee who jumped ship to a competitor, calling the bid “grossly excessive”.

Administrators of collapsed budget airline Bonza have been given two more months to try to sell the company, with the Federal Court finding a sale would be of greater benefit than liquidation to the airline’s 58,428 creditors, who are owed $116 million.