James Arnott

A judge has indicated he will sign off on a $100,000 penalty and four-year ban against the former CFO of Noumi, who has admitted his role in the food company’s non-disclosures.

Mastercard is fighting an evidentiary win for the competition watchdog in a case alleging the payments giant misused its market power in deals with major retailers.

A judge has found energy company AGL committed thousands of contraventions of the Retail Rules by continuing to deduct payments from welfare recipients after they had closed their accounts.

The corporate regulator has won its case against Bit Trade, the Australian provider of the Kraken crypto exchange, after a judge rejected the company’s argument that its product was not a credit facility. 

The ACCC has secured $6 million in penalties against wealth education company DG Institute and its CEO Dominique Grubisa, as well as orders that the company refund $14.7 million in course fees to customers who enrolled in its ‘Master Wealth Control’ program.

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. 

The Australian provider of the Kraken crypto exchange has told a court that its margin trading product is not a credit facility, rejecting the corporate regulator’s “overly broad” definition of the word ‘credit’. 

ASIC has argued a recent ruling that found Noumi waived privilege over a PwC report by providing it to the regulator could dissuade people from voluntarily disclosing information during investigations and cause a “loss of public benefit” if allowed to stand. 

Noumi and ASIC are challenging a finding that the food manufacturer waived legal professional privilege over a PricewaterhouseCoopers report commissioned by its lawyers at Ashurst by disclosing the report during an ASIC investigation.

Ramsay Health Care has won a partial interim injunction banning the union representing its nurses from running ads that claim the private hospital operator runs on a staff-to-patient ratio double that of public hospitals.