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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.
The High Court has granted special leave to mortgage aggregator Connective in a dispute between the firm's founder and major shareholders over a transfer of one-third of the company's shares, in a case that could clarify whether litigation should be considered a prohibited form of financial assistance under the Corporations Act.
Viterra can amend its defence mid-trial in its dispute with Cargill over the $420 sale of its Joe White malt business to argue it was standard industry practice to fudge test results relating to malt quality, provided it identifies which industry players engaged in the practice.
The judge overseeing a fraudulent concealment trial over Cargill's $420 million purchase of the Joe White malt business has reaffirmed an earlier ruling allowing an in-house counsel at Glencore to access documents related to the possible sale of Cargill's malting business.
A court has told the Australian Securities and Investments Commission to produce more detailed allegations against former Tennis Australia directors Harold Mitchell and Stephen Healy over Seven Network's five-year deal for the broadcast rights to the Australian Open after the regulator was slammed for a vague filing.