Personal healthcare giant PZ Cussons is seeking indemnity costs from the ACCC, claiming the regulator unreasonably rejected a settlement offer in its case over an alleged laundry detergent cartel.
A court has tossed a case by the ACCC against Ramsay Health Care claiming that the global hospital group misused its market power by pressuring a group of doctors who planned to open their own day clinic.
Personal healthcare giant PZ Cussons is seeking $4.7 million in indemnity costs from the ACCC, claiming the regulator’s much hyped spoke and hub case over an alleged laundry detergent cartel was always “overwhelmingly likely” to fail.
The Australian Competition and Consumer Commission says it has no grounds to challenge a ruling that found the $15 billion merger of Vodafone with telecommunications rival TPG would not substantially lessen competition.
The judge who dismissed the ACCC’s challenge to Pacific National’s acquisition of Aurizon’s Acacia Ridge Terminal in Queensland had no power to accept an undertaking by the rail operator as an answer to the competition regulator’s case, an appeals court has been told.
Vodafone has won its case against the ACCC over its proposed merger with rival telecommunications company TPG, with a judge ruling the tie-up would not substantially lessen competition and had a real chance of becoming a “competitive force” against the two dominant players in the market, Telstra and Optus.
Westpac is facing its first shareholder class action in the US following revelations that it violated anti-money laundering and counter-terrorism finance laws on more than 23 million occasions, in the first lawsuit to point the finger at the company’s executives.
A Federal Court judge has ordered Westpac to pay a $9.15 million penalty after one of its financial advisers breached the best interests duty by giving customers bad advice that resulted in millions in losses.
Westpac is facing a class action on behalf shareholders in three countries over its alleged anti-money laundering and counter-terrorism financing breaches and disclosures.
The Australian Prudential Regulation Authority has flagged potentially “substantial gaps in risk governance” by Westpac as it formally kicked off an investigation into the bank and its executives for potential breaches of the Banking Act.