ASIC has achieved a significant milestone in its long-running case against Andrew Alexander Lindberg, the former Managing Director of AWB Limited (AWB) when the matter was before the Supreme Court of Victoria for hearing in relation to the admission of contraventions by Mr Lindberg. In the hearing, Mr Lindberg made admissions of four contraventions of section 180(1) of the Corporations Act 2001 arising from AWB’s supply of wheat to Iraq under the United Nations (UN) Oil-for-Food Programme (OFFP) and subsequent inquiries conducted by AWB in relation to that supply. The Court also heard a joint submission made by ASIC and Mr Lindberg that the appropriate penalty for the admitted contraventions ought to be a fine of $100,000 and disqualification from managing corporations until 15 September 2014.