Tuesday, 19 July 2016

Former fintech owner takes on Visa

In September 2015, the Federal Court ordered Visa Worldwide Pte Ltd (Visa) to pay a pecuniary penalty of $18 million for engaging in anti-competitive conduct.

Visa’s exposure from this finding may extend beyond this penalty, as commercial entities allegedly affected by this conduct also take up arms against the global payments technology company.

Thursday, 14 July 2016

The validity of agreed penalties in the civil jurisdiction

In October 2015 the High Court handed down its much anticipated decision in Commonwealth v Director, Fair Work Building Industry Inspectorate & Ors (2015) 326 ALR 476 (Cth v FWBII) on the validity of agreed penalties in the civil jurisdiction.  For regulators such as Australian Securities and Investment Commission (ASIC), the Australian Competition and Consumer Commission (ACCC), the Fair Work Building Industry Inspectorate (FWBII) and Comcare, the stakes were high.

Monday, 4 July 2016

Freezing Orders Explained

Victims of white collar crime, whether large or small businesses, can all face a real dilemma when the crime is discovered – can we get our money back?

The answer may be to obtain an asset freezing order from the Courts.