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Three Keybridge directors breached their duties when they approved a $4.75 million bonus for CEO Nicholas Bolton and arranged for the financially distressed company to advance Bolton a loan to acquire a $20 million property in Lake Como, a judge has found.
Construction PRO
Three Keybridge directors breached their duties in approving a $4.75 million loan to help CEO Nicholas Bolton acquire a $20 million property in Lake Como, a judge has found.
Legal services provider Knowmore Legal has lost its bid to exclude a class action lead plaintiff’s individual claim from an upcoming trial in proceedings accusing it of providing cookie cutter legal advice to survivors of institutional child sexual abuse.
Three Keybridge Capital directors have rejected claims that board minutes documenting a $4.75 million bonus to former CEO Nicholas Bolton were a post-hoc "concoction”, saying they accurately reflected an agreement reached during a nine-minute meeting in 2023.
Law firm Allen & Overy advised that there were “very serious problems” with awarding Keybridge’s former CEO Nicholas Bolton a $4.75 million bonus, a judge has heard.
Former Keybridge CEO Nicholas Bolton has faced questions about a $4.75 million bonus he was paid on a $17.8 million deal with fund manager Magellan, on the second day of trial in proceedings by WAM over two transactions its alleges were oppressive to shareholders.
A class action accusing Knowmore Legal of providing 'cookie cutter' legal advice is mulling an application to discontinue claims against the peak body for community legal centres.
Construction PRO
The owners corporation for an apartment complex in the Melbourne suburb of St Kilda has lost its adverse possession claim over a tennis court mostly located on adjoining land, with a judge finding their use of the property was subject to a lease.
The AFL has won its bid to strike out occupational health and safety claims from a class action over its concussion management practices.
The Geelong Football Club has launched a bid to summarily dismiss or strike out claims alleging breaches of occupational health and safety regulations in a concussion class action against the AFL.