AMA Group has told a court it will enter early mediation in its lawsuit against former CEO Andrew Hopkins that alleges he owes $2.4 million in unauthorised expenses and repayments on an outstanding loan.
A judge has awarded four sample group members in the Queensland floods class action $1.28 million in compensation, finding that charitable payments did not affect the amount of interest payable on the damages they are owed.
AMA Group is suing former CEO Andrew Hopkins for $2.4 million he allegedly owes in unauthorised expenses and repayments on an outstanding loan
A mid-trial settlement has been reached in a lawsuit brought by the liquidators of collapsed steel giant Arrium against 10 former company directors and officers for allegedly engaging in insolvent trading.
A $440 million settlement by the State of Queensland and dam operator Sunwater resolving a class action over the 2011 Queensland floods has been approved by a NSW judge.
The law firm behind a long-running class action over the 2011 floods in Queensland which reached a $440 million partial settlement last month has estimated that its legal bill to date totals around $60 million.
Law firm Herbert Smith Freehills has attacked a lawsuit brought by a group of lenders against collapsed steel giant Arrium, rejecting claims that $430 million in loans was borrowed under misleading or deceptive representations.
The former group treasurer of collapsed steel giant Arrium has hit back at claims brought by the company’s liquidators that it was trading while insolvent, arguing the case had been ‘infected’ by evidence from an expert who was also a plaintiff in the case.
Doomed iron and steel giant Arrium attempted to stave off its inevitable $2.8 billion collapse and put off negotiating with its lenders until the last minute despite warnings from its legal and financial advisors, liquidators for the company told the court.
Directors of steel producer Arrium continued to borrow money from “vulnerable” lenders in the months prior to the company’s $2.8 billion collapse and “bled cash” despite the inevitable end, a number of lenders have said on the first day of a 40-day trial in the NSW Supreme Court.