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ACCC raises concerns about Olam’s bid for Namoi Cotton
Competition & Consumer Protection 2024-06-20 11:22 pm By Andy Sidler

The ACCC has raised concerns that Singaporean agricultural giant Olam Agri Holding’s bid to acquire ASX-traded cotton ginner Namoi Cotton could reduce competition and stick cotton farmers with higher prices, one month after flagging similar concerns with Louis Dreyfus’ competing takeover proposal. 

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Car dealership Eagers backpays $16M to short-changed staff
Employment 2024-06-20 2:23 pm By Cindy Cameronne

Australia’s largest car dealership Eagers Automotive has backpaid 13,000 staff more than $16 million after the Fair Work Ombudsman found that five of its subsidiaries underpaid employees. 

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Firefighters union fails on appeal in spat with Fire Rescue Victoria
Appeals 2024-06-20 11:03 pm By Andy Sidler

The United Firefighters Union has lost an appeal of two Fair Work Commission decisions, with the Full Federal Court finding that a commissioner did not err in deciding the matter at a later time.

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In high-stakes breach case, OAIC says Medibank failed to implement ‘basic’ security controls
Privacy & Cybersecurity 2024-06-19 11:34 pm By Cindy Cameronne

Medibank failed to put in place baseline security measures, including multi-factor authentication, to safeguard sensitive information from a hacker in 2022, who stole an IT contractor’s credentials and logged in to the health insurer’s private network three months before the company learned its data was compromised, the OAIC says.

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Ex-EY partner seeks to strike out ATO case, claiming substantial defects
Tax 2024-06-19 10:07 pm By Andy Sidler

A former Ernst & Young partner accused of promoting tax exploitation schemes wants to strike out portions of the ATO’s case, but the tax office argues he has threatened the application since last year and is preoccupied with a satellite fight to keep his name out of the media.

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Failure to meet KPIs not valid reason for axing telemarketer: FWC
Employment 2024-06-19 10:41 pm By Sam Matthews

A failure to meet key performance indicators not written into her employment contract was not a valid reason for sacking a telemarketer, the FWC has found in awarding the worker $10,000 in compensation.

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ASIC wins orders freezing assets of Keystone Asset Management fund
ASIC 2024-06-19 11:47 pm By Andy Sidler

ASIC has secured freezing orders over the assets of an investment fund managed by Keystone Asset Management, with a court also ordering a Keystone director to surrender his passport amid an investigation by the corporate regulator. 

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ASIC says judge erred in assessing Gilbert + Tobin’s advice to crypto provider
Cryptocurrency 2024-06-18 3:36 pm By Sam Matthews

ASIC has wasted no time in appealing a judge’s decision to excuse cryptocurrency product provider Block Earner from paying a civil penalty on the basis that it took advice from a leading law firm that was not seen by the court. 

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MinterEllison advice in spotlight in ASIC case against Dixon Advisory director
Trials 2024-06-17 11:09 pm By Cindy Cameronne

Trial in ASIC’s action accusing former Dixon Advisory director Paul Ryan of breaching his duties began Monday, a case that puts the spotlight on legal advice over a deed that affected the wealth management firm’s capacity to recoup a $19 million debt on the eve of its collapse.

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Paladin Group director entitled to rely on penalty privilege in ASIC case, court told
Financial Services 2024-06-17 1:35 pm By Sam Matthews

A director of two Paladin Group units is entitled to rely on the privilege against self-exposure to penalty in defending a case brought by the Australian Securities and Investments Commission, a court has heard.

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