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EnergyAustralia hit with $14M penalty for misleading consumers about prices
Competition & Consumer Protection 2024-09-26 11:13 pm By Andy Sidler

In a first, EnergyAustralia has been ordered to pay $14 million for breaching the Electricity Retail Code by misleading customers about prices.

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AGL overcharged hundreds of customers receiving Centrelink payments, court finds
Energy & Natural Resources 2024-08-26 11:20 pm By Andy Sidler

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.

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No penalty for IOOF unit RI Advice in ASIC’s novel cybersecurity case
Privacy & Cybersecurity 2022-05-05 12:24 pm By Christine Caulfield

IOOF financial advice unit RI Advice has escaped a penalty in a test case alleging cybersecurity failures, but the firm must engage an IT security company and pay the corporate regulator’s legal costs.

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IOOF unit settles ASIC’s cybersecurity test case
Privacy & Cybersecurity 2022-04-20 12:48 pm By Sam Matthews

IOOF unit RI Advice has agreed to settle novel proceedings brought by the Australian Securities and Investments Commission claiming it failed to protect its clients against cybersecurity risks.

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Viterra to pay $168.9M for misleading Cargill during Joe White sale
Corporate 2022-02-17 2:05 pm By Cat Fredenburgh

Grain producer Viterra will be ordered to pay Cargill Australia $168.9 million after a judge found the Glencore-owned company  misrepresented the performance capabilities of malt producer Joe White when it sold the company for $420 million in 2013.

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Court finds Viterra engaged in deceit during $420M Joe White sale
Competition & Consumer Protection 2022-01-28 10:58 am By Cat Fredenburgh

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.

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IOOF unit loses bid to strike out ASIC’s cybersecurity case
Privacy & Cybersecurity 2021-10-07 1:26 pm By Cindy Cameronne

IOOF unit RI Advice has lost its bid to strike out ASIC’s novel case claiming it failed to protect its clients against cybersecurity risks, but a judge has chastised the regulator for causing “needless confusion” and “wasted time”.

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‘Trouble and harassment’: Appeals court won’t revive Palmer’s $263M suit against CITIC
Appeals 2021-06-28 4:40 pm By Miklos Bolza

Clive Palmer and his company Mineralogy have lost a challenge to a Western Australia Supreme Court decision staying a $263 million lawsuit against Hong Kong-based CITIC, with an appeals court finding the mining giant’s decision to abandon and relitigate matters amounted to “unjustified trouble and harassment”.

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800-page report dooms ASIC bid for early trial in cybersecurity case against IOOF unit
Privacy & Cybersecurity 2021-05-14 3:39 pm By Cindy Cameronne

A judge has denied ASIC’s request that the court hear its case against RI Advice in November, giving the IOOF unit more time to respond to the 800-page expert report filed by the regulator in support of its case that the company lacked adequate cybersecurity systems.

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Judge won’t keep sales figures confidential in epic Cargill, Viterra battle
Corporate 2021-05-11 3:55 pm By Miklos Bolza

A Victoria Supreme Court judge has rejected a post-trial bid to keep details of the 2019 sale of Cargill’s malt business under wraps in a long-running case over Viterra’s $420 million sale of its Joe White business, finding the move would be contrary to the principles of open justice where no harm from disclosure had been demonstrated.

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