In an Australian first, the Federal Court has ordered Cryosite Limitedto pay penalties of $1.05 million for cartel conduct, following proceedings commenced by the Australian Competition and Consumer Commission for gun jumping.
"Potentially problematic” debt behaviours are among the findings of ASIC’s Report 580 on credit card lending in Australia. Partner Elizabeth Avery and Peter Reeves discusses what the Report means for consumers and credit providers in this article.
In an Australian first, the ACCC has commenced civil cartel proceedings for alleged “gun-jumping” before completion of an M&A transaction. In this Insight, we discuss the ACCC’s proceedings against Cryosite Limited, and provide suggestions to minimise the risks of "gun-jumping" in other transactions.
In this update, we examine the relevant legislative and regulatory developments happening across the fintech landscape over the past month. There have been a number of significant developments in Australia including passage of laws applying anti-money laundering and counter-terrorism financing obligations to digital currency exchanges. The Governor of the RBA also discussed the possibility of introducing a digital form of the Australian dollar. Overseas, class actions and SEC stop orders in the US have reinforced the necessity for ICO issuers to seek legal advice when conducting an offer.
Gilbert + Tobin has advised GrainCorp Limited (GrainCorp) on the sale of its Australian Bulk Liquid Terminals business to ANZ Terminals Pty Ltd (ANZ Terminals) for an enterprise value of approximately $350 million. The deal was announced to the market yesterday. As part of the sale arrangements, Gilbert + Tobin also advised GrainCorp on a long-term storage agreement, which will take effect on the sale’s completion.