The Federal Court today decided not to grant the Australian Competition and Consumer Commission an interim injunction to restrain Metcash from acquiring the Franklins supermarket business until a full appeal is heard and determined.
The court expedited the appeal hearing setting it down on 24 October 2011, to be heard over three days.
"The ACCC remains committed to the appeal process," ACCC chairman Rod Sims said today.
"To that end the ACCC welcomes the court's order expediting the appeal hearing. A speedy resolution will be in the best interests of all the parties."
The ACCC filed an appeal on Friday 9 September 2011 against the Federal Court's judgment dismissing the ACCC's application to prevent Metcash from acquiring the Franklins supermarket business.
Metcash had earlier given the ACCC an undertaking that it would not proceed with the acquisition of Franklins without giving five business days' notice. On Sunday 11 September, Metcash wrote to the ACCC giving it this notice. The ACCC therefore applied to the Federal Court for an interim injunction, which the court has declined to grant.