Murray Goulburn (MG) has agreed to settle a court case brought by the competition watchdog over allegations it misled farmers about how much they would be paid for their milk in 2016, triggering the dairy crisis.
MG said that under the settlement, which is subject to Federal Court approval, the Australian Competition and Consumer Commission (ACCC) will seek a financial penalty against former MG managing director Gary Helou but not against the company itself.
The ACCC will apply to the Federal Court seeking declarations Murray Goulburn and Mr Helou contravened consumer law in regards to its farmgate milk price.
MG said the agreement called for MG and Mr Helou to admit to the contraventions and agree to costs orders against them.
“Murray Goulburn is pleased to have reached an agreement with the ACCC on this matter,” MG chairman John Spark said.
The ACCC said the Federal Court had made orders for the filing of a statement of agreed facts and joint submissions “on relief” on the matters, and for the matters to be heard on December 6.
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