(19/02/2025 Update on Whistleblower Case ASIC vs Terracom)
TerraCom Limited and its senior executives are facing legal action from ASIC for allegedly retaliating against a whistleblower. The directors involved - Daniel McCarthy (Current Managing Director), Nathan Boom (Former Chief Commercial Officer), Wallace King (Former Chair), and Craig Ransley (Former Director and Deputy Chair) - are claiming penalty privilege, allowing them to withhold certain information that could incriminate them. As of February 18, 2025, the Federal Court has scheduled a pre-trial case management hearing for June 2, 2025, with a 10-day trial set to commence on June 16, 2025. If found guilty, the directors could face fines of up to $1.05 million each or two years in jail, while TerraCom could be fined up to $10.5 million or 10% of its annual turnover, capped at $525 million.
(Fine figures are based on Australian corporate law penalties for whistleblower breaches as outlined by ASIC and relevant legislation.)
https://www.lawyerly.com.au/terracom-directors-to-claim-penalty-privilege-in-novel-asic-case/
https://www.comcourts.gov.au/file/Federal/P/NSD176/2023/actions
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Last
7.2¢ |
Change
-0.002(2.70%) |
Mkt cap ! $57.66M |
Open | High | Low | Value | Volume |
7.4¢ | 7.4¢ | 7.0¢ | $296.5K | 4.160M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 145014 | 7.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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7.4¢ | 90149 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 145014 | 0.072 |
8 | 770361 | 0.071 |
5 | 357699 | 0.070 |
3 | 244420 | 0.069 |
7 | 94204 | 0.068 |
Price($) | Vol. | No. |
---|---|---|
0.074 | 90149 | 4 |
0.075 | 53660 | 2 |
0.076 | 47773 | 2 |
0.078 | 27418 | 2 |
0.079 | 123000 | 2 |
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