Woolworths must document its defense with the Federal Court inside of two weeks against the charges that it endeavored to crush $60 million from more than 800 suppliers. Woolworths (WOW) will probably have its day in court by the second half of the year, where the Australian Competition and Consumer Commission will lay out its charges that the grocery giant attempted to grab funds from suppliers to help fill a $50m profit hole.
The hearing date is currently set after August 4. Woolworths and the ACCC were set to face one another in court for the first time this morning. ACCC took action against Woolworths last year blaming the country’s biggest supermarket chain for taking part in one of the most pessimistic scenarios of unconscionable behavior by a corporate.
Yet, late on Friday the two groups consented to a timetable whereby Woolworths will document and serve its resistance by February 15. The ACCC will then record and serve its answer by March 7. Justice Yates of the Federal Court has likewise coordinated the ACCC to record any affidavit evidence that it will depend on for the trial and other supporting reports by late March.
The court has likewise requested intervention for Woolworths and the ACCC to occur in the week starting July 18. Recording its case in the Federal Court in December, the ACCC blamed Woolworths’ most senior bosses for tearing from mid-level suppliers a sum of $18.1m in payments, which were expected to connect a profit deficiency to its December-half results.