(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
7.9¢ |
Change
0.001(1.28%) |
Mkt cap ! $63.27M |
Open | High | Low | Value | Volume |
8.2¢ | 8.2¢ | 7.9¢ | $11.70K | 145.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 74050 | 7.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.0¢ | 47157 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 74050 | 0.079 |
3 | 431740 | 0.078 |
4 | 432614 | 0.077 |
2 | 110000 | 0.076 |
8 | 547307 | 0.075 |
Price($) | Vol. | No. |
---|---|---|
0.080 | 65834 | 5 |
0.081 | 98137 | 2 |
0.082 | 52196 | 3 |
0.083 | 19434 | 2 |
0.084 | 120000 | 1 |
Last trade - 14.32pm 01/08/2025 (20 minute delay) ? |
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