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Construction PRO
Developer fined $150,000 in first prosecution over project trust accounts
In the first prosecution of its kind, a Queensland property developer has been fined $150,000 for offences relating to a project trust account under the state's security of payment laws.
Judge wants more than ‘bland’ claim of defects in Hyundai, Kia class actions
Class actions against Hyundai and Kia say they need a third round of document discovery, two years into the cases, but a judge has said the applicants should first detail the alleged engine defects at issue.
Construction PRO
LU Simon loses special case in Victoria’s combustible cladding action over Atlantis
An appeals court has sided with the state of Victoria on a crucial issue in its case against LU Simon Builders over alleged combustible cladding on Melbourne's Atlantis Towers.
Construction PRO
Collapsed Sharvain Facades owes $54M to Multiplex, Scentre, other creditors
Building façade company Sharvain, which went under last month, owes major builders $54 million, according to a judgment pushing out the date for a creditors meeting.
Firm, funder set to take half of AIG settlement in Linchpin class action
Details of a settlement with AIG in a class action by investors in failed Linchpin reveal the insurer has paid out all of a $10 million policy and will hand over another $2.15 million in interest and costs.
Salter Brothers, XL Insurance resolve fight over coverage for clients’ lawsuit
Real estate investment manager Salter Brothers has resolved a spat with XL Insurance over more than $6 million in costs incurred in successfully defending itself in lawsuits by three clients.
Funder’s CEO told female director to ‘make way for thrusting young bucks’, suit says
The CEO of litigation funder Woodsford told a female director to swallow her "pride and ego" and make way for a younger, male collague, a new lawsuit claims.
Tabcorp’s former CEO sues betting giant, directors
Tabcorp's ex-boss, who was found to have been forced out over alleged offensive language, says his coerced resignation was inconsistent with a boardroom history of condoning off-colour remarks.
Class action funder faces unfair dismissal suit by ex-director
A UK-based litigation funder has been hit with a lawsuit by its Australian director and head of origination claiming dismissal in breach of the Fair Work Act.
CIMIC class action funder takes $4.7M haircut from commission
The litigation funder behind a class action against engineering firm CIMIC took a $4.7 million hit to its commission from a settlement after a dispute with the plaintiff's law firm, according to a decision published Friday.