Japanese shipping company K-Line has been hit with a $34.5 million penalty for criminal cartel conduct, the largest consumer criminal fine in Australian history.
Former Tennis Australia director Harold Mitchell has told a court that the corporate regulator had to be dragged “kicking and screaming” to produce documents in its enforcement action over alleged breaches of directorial duties involving negotiations for the Australian Open broadcast rights.
Car giant Toyota is facing a class action seeking compensation on behalf of around 250,000 vehicle owners who allegedly suffered loss from faulty diesel filters in the automaker’s Hilux, Fortuner and Prado diesel model cars.
Lawyers for former Vocation CEO Mark Hutchinson say the corporate regulator is “plucking numbers out of the air” in its bid to secure disqualifications of up to eight years against the former executives who breached their directors’ duties in relation to the collapsed education provider.
A judge has rejected a proposed common fund order in the settled KPMG class action, saying the funder’s commission was “arguably excessive” and could result in a “stratospheric” return to the firm.
Ex-Tennis Australia director Harold Mitchell, facing enforcement action by ASIC alleging he breached his duties in awarding Australian Open broadcast rights to the Seven Network, has asked a court for all evidence the regulator obtained from former board member Graeme Holloway, who died in February.
A court has stayed a case against global lithium miner Galaxy Resources after finding that an insurance policy by the plaintiff’s funder and an associated undertaking and deed of indemnity were insufficient to cover security for costs.
The Australian Competition and Consumer Commission has expressed competition concerns about ANZ Terminals’ proposed acquisition of a unit of global agribusiness GrainCorp, despite the storage specialist offering to divest one of its terminals to win approval for the $350 million deal.
NSW Ports Operations has denied claims that an agreement for the privatisation of its subsidiaries Port Botany and Port Kembla stymied competition, describing the allegations made by the Australian Competition and Consumer Commission as “slight or hypothetical”.
The NRMA’s bid to restrain the maritime union’s campaign over the safety and employment standards of Sydney’s fast ferry services on the grounds that it violates IP and consumer laws is set to be fast tracked after a judge noted the “significant” case could raise freedom of speech issues.