ASIC's move as Groves 'off the hook'

THE corporate regulator has refused to say if it will take action against Eddy Groves after a charge against the founder of failed childcare operator ABC Learning was dropped last week.

The Commonwealth Director of Public Prosecutions discontinued the charge against Mr Groves of ''aiding an alleged dishonest use of position by fellow ABC Learning director Martin Kemp''.

Litigation funders yesterday vowed to press ahead with a class action against ABC Learning's banks despite the surprise move by to drop the charge.

The IMF Australia executive director, John Walker, expressed ''surprise'' and ''disappointment'' at the development, with a thinly veiled swipe at the Australian Securities and Investments Commission.
Advertisement

''It is at least surprising that the regulator hasn't any public investigation or charges against Eddy Groves at present,'' Mr Walker told BusinessDay.

Read more at Brisbanetimes.com.au


‘There’s a dildo on our letter box’: Family’s shock find

Premium Content ‘There’s a dildo on our letter box’: Family’s shock find

DILDO BANDIT: Mother said ‘I was not touching it’ after spotting the black strap-on...

SLOW LEARNER: Drink driver jailed after ninth charge

Premium Content SLOW LEARNER: Drink driver jailed after ninth charge

Bronwyn Sheppard pleads guilty to dangerous driving while drunk on highway

Hopes for green light on $1.1 billion project next week

Premium Content Hopes for green light on $1.1 billion project next week

Company behind Whitsunday Paradise says the development could provide 84 jobs by...