A court has trimmed 10% off a $300,000 penalty against the former CEO of failed Gold Coast finance company MFS Group, after he successfully argued his role in the misappropriation of $147.5 million in trust funds was not as an officer of the company.
The judge overseeing a dispute between Kraft and Bega over peanut butter trade dress rights has stayed orders barring Kraft from selling peanut butter in Australia featuring the disputed trade dress while it appeals its loss to Bega in the case.
AIG Australia has failed to convince the Full Federal Court that an insolvency exclusion in a directors and officers policy held by Kaboko Mining should exempt it from covering claims brought by the collapsed mining company against four former executives after a failure to repay a US$5.95 million loan allegedly led to the company’s insolvency.
The Commonwealth of Australia is preparing a special leave application to the High Court challenging a NSW Court of Appeal decision reviving a class action brought on behalf of sailors over an allegedly broken Navy training promise.
The Australian Securities and Investments Commission has narrowly lost its High Court appeal of a ruling that found the owner of a South Australian outback general store had not acted unconscionably by selling used cars through a “book-up” system.
Sirtex Medical has reached a mid-trial agreement to resolve a shareholder class action that centred on the biotech company’s sales forecasts of its radiation treatment.
The long-running dispute between Kraft Foods and Bega over who owns the rights to use the signature Kraft peanut butter trade dress in Australia is not over, with Kraft appealing a ruling that found Bega had acquired the rights to the trade dress when it purchased Kraft unit Mondelez’s Australian and New Zealand business in 2017.
A group of Indigenous Australians opposed to Adani’s Carmichael coal mine in Queensland have lost an eleventh hour bid to add extra grounds to their native title appeal, as they wait for a decision from the Full Federal Court.
The former chief executive officer of Hastie Services has admitted to asking staff to make up for a shortfall between forecast and actual profits at the firm, but claims he made the order with the expectation it would be done legally, the jury hearing a criminal case against him was told.
A former finance manager from Hastie Services and key witness for the prosecution in the criminal trial against two of the company’s former executives only pointed the finger at former COO Ian Thompson to avoid jail time herself, a jury has heard.