The liquidators of collapsed engineering company Hastie Group have lost their bid to appeal a decision that knocked out half its $120 million case against Multiplex, Lendlease and numerous other builders.
A Chinese businessman behind the Latitude indoor trampoline park chain has failed in a lawsuit against his Australian co-investor, after claiming a share sale agreement between the two was breached when his partner decided to sell the business to competitor Bounce.
Senior restructuring and insolvency lawyers have welcomed a novel ruling that found a liquidator was entitled to claim his costs ahead of the preferred claims of company employees, but questions remain about the “potentially difficult” interaction between two conflicting priority regimes.
In a novel decision, a judge has found that a liquidator is entitled to claim his “arguably disproportionate” costs ahead of the preferred claims of company employees.
AIG can’t force investment firm Sayers to hand over communications over which it claimed legal professional privilege, with a judge rejecting the argument that Sayers could not “cherry pick” which advice it disclosed after waiving privilege over advice given by two barristers in 2017 and 2019.
The Australian Securities and Investments Commission has released details of its allegations against embattled property developer Sasha Hopkins, who is the subject of several freezing orders won by the regulator earlier this month.
Embattled property developer Sasha Hopkins will face a compulsory examination by the Australian Securities and Investments Commission over the activities of his company A Team Property Group.
Noumi, formerly known as Freedom Foods, has agreed to pay $860,000 in Blue Diamond Growers’ costs as part of a $48 million settlement of a legal spat over a licensing deal to sell Almond Breeze milk, which the food maker unsuccessfully argued should be heard in Australia.
Beleaguered investment group Mayfair 101 will have to pay a $30 million penalty after a judge found a $12 million penalty proposed by ASIC was “insufficient”.
The Australian Securities and Investments Commission says beleaguered investment group Mayfair 101 should pay a $12 million penalty after a judge found the company misled investors about its financial products.