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.
Former directors of Steller Developments have told a court they did not intend to guarantee the company’s debt in the event of bankruptcy, as trial kicked off in proceedings by the collapsed Melbourne developer’s liquidators.
The firm that represented the funder of the notorious Banksia class action faces potential proceedings by a group of debenture holders. Meanwhile, Banksia’s receiver wants a court direction that he is justified in not pursuing the lawyers.
The High Court has denied special leave to the Commonwealth on behalf of employees of collapsed fintech Spitfire in a battle over $2 million in research and development tax refunds.
A private investment fund has won its claim as a secured creditor over $2 million in research and development tax refunds that a court previously found should go to employees in a fight over funds remaining following the collapse of fintech Spitfire Corporation.
Real estate investment trust NorthWest can amend its pleadings in a lawsuit alleging one of the country’s largest unlisted healthcare property funds conspired to prevent it from acquiring a controlling stake, but has come up short in its bid to add to its claims against property giant Dexus.
A judge has declined Expert Group’s bid to bring court proceedings about the amount of an earn-out owed under its agreement to sell cloud services provider Experteq IT Services, finding the firm had agreed to resolve the matter by expert determination.
Japanese bank SMBC has foreshadowed an application to add claims against Humm Group after the fintech’s subsidiary allegedly misled the bank about receivables under contracts forged by a Forum Group entity.
Fintech Humm has admitted to making “misrepresentations” to Japanese bank SMBC over allegedly worthless receivables linked to Forum Finance but has denied it was negligent, claiming a Forum Group unit should share the burden of paying any damages in the $33.6 million lawsuit.
A judge has fined superannuation fund promoter MobiSuper and licensee ZIB Financial $250,000 for misleading marketing calls.