The Australian Competition and Consumer Commission has dropped its claims of collusion against rail freight companies Pacific National and Aurizon, as the trial in its competition case wraps up this week.
The judge overseeing the marathon trial between agricultural giants Cargill and Viterra over the $420 million sale of malt producer Joe White has shot down objections to both parties’ expert reports related to whether it was common industry practice to cheat customers by failing to comply with contract details and providing misleading malt test results.
Biotech company Cryosite has agreed to pay $1.05 million to settle the competition regulator’s landmark case alleging it jumped the gun on a proposed merger agreement with rival Cell Care.
A judge has recommended another shareholder vote over Boart Longyear’s plan to move to Canada, saying a letter by a minority shareholder warning the move could imperil a possible class action against the distressed mining services company was misleading and affected the integrity of the vote.
Companies that run afoul of the law should brace for more courtroom battles against ASIC, after the Hayne Royal Commission urged the corporate regulator to make litigation a central pillar of its enforcement strategy.
ASIC is seeking approval from the High Court to appeal a judgment that let a former director of Gold Coast finance company MFS Group partially off the hook for $147.5 million in misappropriated funds, saying the High Court needs to clarify the scope of the word “officer” under the Corporations Act.
Agricultural giant Cargill has been ordered to hand over documents to Glencore regarding its use of an unauthorised type of barley before and after its $420 million acquisition of malt producer Joe White.
JP Morgan, the reported whistleblower behind a criminal cartel case against ANZ, Deutsche Bank and Citigroup over a $2.5 billion share placement, has won its bid to keep documents from a related ASIC probe confidential.
The Australian Competition & Consumer Commission is considering whether a divestment offer by waste management company Bingo Industries will address concerns the regulator has raised about the company’s proposed acquisition of Dial-a-Dump Industries.
Majority shareholders in MWL Financial have won court approval to bring a derivative suit against US-based Focus Financial Partners over an acquisition gone sour.