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.
The Australian Securities and Investments Commission has prevailed in its case against payday lenders Cigno and BSF Solutions alleging they provided credit without a licence, with a judge rejecting their argument that their loan model was analogous to buy now, pay later arrangements that don’t require a credit licence.
Insurer Lloyd’s in not on the hook for losses arising from a cancelled 2019 music festival, with a judge finding the Black Summer bushfires did not render cancellation necessary as was required for coverage under the relevant insurance policy.