Judgment day has arrived in a legal battle over the $420 million sale of the Joe White malt business so epic four silks on the case were elevated to judgeships during its long run, but losing party Viterra has not ruled out an appeal.
Food giant Cargill Australia has won its lawsuit against Glencore-owned Viterra alleging it misrepresented the performance capabilities of malt producer Joe White when it sold the company for $420 million in 2013.
Mylan’s Australia unit is appealing decisions by the tax office to refuse deductions on interest paid under loans taken out by the pharmaceutical giant to help fund the $1.2 billion acquisition of generic drug maker Alphapharm almost 15 years ago.
Law firm Maddocks has been ordered to pay more than $1.4 million in indemnity costs for “throwing good money after bad” in failing to consider a settlement offer in a negligence lawsuit over a client’s botched deal with Woolworths.
IVF company Virtus Health has withdrawn its offer to acquire rival Adora Fertility from Healius, citing the competition regulator’s opposition to the takeover.
The former CEO and chairman of Antares Energy has been banned from managing corporations for four years and hit with a $40,000 penalty for failing to disclose to the market the buyer behind an ill-fated US$254 million acquisition of Texas oil assets.
The Australian Competition and Consumer Commission has will not oppose Woodside Petroleum’s $41 billion acquisition of BHP Petroleum International, saying the oil and gas giant would have no incentive to reduce domestic gas supply.
The Australian Securities and Investments Commission has opposed BlueScope Steel general manager Jason Ellis’ request for court permission to manage another company, saying he should wait until the ACCC’s price-fixing case against him has been decided.
The Australian Competition and Consumer Commission has given the green light to pork processor JBS Australia to proceed with its proposed $175 million acquisition of a Singapore-owned pig farm and abattoir business, despite competition concerns raised by pig farmers.
A senior ACCC officer was probed Tuesday on whether the competition regulator updated its guidelines for taking witness statements in July in response to criticism of investigators’ methods in the cartel probe over ANZ’s $2.5 billion share placement.