ASIC v Mawhinney

The Federal Court has scheduled a 2-week trial commencing on 21 October 2024.

The Federal Court will hear Mr Mawhinney's application to have certain evidence be deemed inadmissible.

Federal Court Justice O'Callaghan rejects ASIC attempt to expand its case against Mr Mawhinney. The decision came after the August 2023 hearing in which ASIC stated at least seven times that it had a ‘mistaken’ understanding of the law which meant Mr Mawhinney was successful in appealing the original decision of Justice Anderson.

The full bench of the Federal Court unanimously overturns the decision of Justice Anderson. They find ASIC's case to be “mistaken”, “absurd” and a “fundamental denial of procedural fairness”. ASIC's case was the mere appearance of contraventions was sufficient to warrant a life ban, rather than actual contraventions. The Full Court remits the case to be re-heard by a Federal Court judge and re-instates the interim injunctions.