A class action brought by investors of failed advisory firm Linchpin has reached a settlement with insurer AIG — the last remaining defendant in the case.
Lendlease has lost a lawsuit seeking to enforce a $120 million purchase agreement for five properties in Campbelltown, with a judge finding its failure to meet the conditions of sale for one key property meant the deal was off.
Logistics company Qube can’t dodge a $71 million payment to subcontractor Martinus Rail, with an appeals court finding no error in an adjudicator’s finding that Qube’s payment schedule was “incomprehensible”.
General Motors has defeated a class action by Australian car dealers over its decision to retire the Holden brand, with a judge finding the car maker did not breach its agreements.
Collapsed Melbourne developer Steller has failed to convince a court that its founders and two former directors owe $101.9 million, with a judge rejecting claims that they personally guaranteed the company’s debt.
In tossing the sixth securities class action to go to trial in recent years, a Federal Court judge has shown the task of proving shareholder loss is a doozy.
Although finding the former director of Quintis and its auditor, EY, engaged in misleading and deceptive conduct, a judge has dimissed a class action by the sandalwood producer’s shareholders.
Four directors of coal producer TerraCom have flagged they will not show their hand in the corporate regulator’s first-ever case alleging breaches of whistleblower protections.
A finding that Noumi’s production of a PwC report to ASIC didn’t constitute waiver of privilege provides clarity that voluntary disclosure agreements can protect confidential information, but care must still be taken, lawyers say.
Lendlease has abandoned its bid to purchase a parcel of land owned by one of Australia’s oldest families for well below market value as part of its project to develop 6,700 homes in Campbelltown, Sydney.