The millionaire has pleaded not guilty to two criminal charges laid against her by ASIC,including that she lodged a misleading statement regarding her interest in infant formula company Bellamy's.
The corporate regulator has hit Kathmandu founder and former Bellamy's director Jan Cameron with criminal charges that could result in up to five years'jail.
Bellamy's Organic shareholders have overwhelmingly voted in favour of a deal that will see China Mengniu Dairy Company buy the organic infant formula business.
The push comes as some Senate crossbenchers question whether Chinese officials and investors undermined Bellamy's to buy the company at a bargain price.
Senator Lambie warned against a"Communist Chinese takeover"of companies that should stay in Australian hands,while Peter Whish-Wilson warned of potential market manipulation.
The Treasurer has imposed a range of conditions on the deal,which he said were to ensure that the acquisition was"not contrary to the national interest."
Bellamy's chief executive has urged shareholders to support the takeover bid by Chinese Mengniu to avoid potential retaliation from China.
The boss of the Chinese dairy heavyweight behind a $1.5 billion bid for Bellamy's has expressed confidence of securing key regulatory approvals in China.
While the Bellamy's board may be supportive of a $1.5 billion takeover by a Chinese buyer,this is a takeover story that still has months to run.
The $1.5 billion bid for Bellamy's Organic by a Chinese dairy giant is"in the national interest",according to Bellamy's boss Andrew Cohen
Greens Senator Peter Whish-Wilson has urged Treasurer Josh Frydenberg to examine whether actions by the Chinese Government suppressed the stock price of Bellamy's