To trial we go: The Asia-Pacific Tipline for 11 December 2020
The landmark criminal cartel case against Australia and New Zealand Banking Group, Citigroup, Deutsche Bank and six executives was committed to the Federal Court of Australia this week for trial, although a date has not been set. The country’s competition watchdog has accused the defendants of colluding to distribute ANZ shares to bank executives after capital raising fell short. While essentially a procedural matter, the case could have far-reaching implications for criminal cartel matters and how stock issues are run. All of the defendants have pleaded not guilty.
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