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.
Professionsal services giant EY has added to the many cross-claims flying in the shareholder class action against Pitcher Partners over advice to law firm Slater & Gordon, and has alleged the accounting firm engaged in misleading or deceptive conduct and negligence and that it breached its retainer.
The ACCC’s cartel case against family-owned crane company NQCranes suffers from ‘incoherence’, the company’s counsel told the Federal Court on Monday ahead of an application to strike out a large portion of the regulator’s case.
ASIC’s warning about the futility of mediation with an IOOF subsidiary has proved prophetic, with talks last week failing to resolve the regulator’s case ahead of trial starting Monday.
A judge has said that Australia’s largest childcare centre operator, G8 Education, can apply for security for costs before a group costs order in a class action accusing the company of failing to keep investors in the loop about increased costs and occupancy rates affecting its 2017 financial performance.
Pelvic mesh device maker Astora Women’s Health is weighing whether to make admissions in a class action over allegedly defective products in light of a similar, high profile class action brought against Johnson & Johnson unit Ethicon over the devices.
The State of Queensland and subcontractor Sunwater have agreed to pay $440 million to settle part of a class action over the 2011 floods in Queensland that destroyed 2,000 homes in the state.
Police have identified human remains found on a beach on the NSW South Coast as Sydney businesswoman Melissa Caddick, who has not been seen since November.
A judge has rejected Fonterra’s bid to restrain Bega from using the Bega trade mark on packaging for peanut butter and nut products as well as Bega’s counterclaim alleging Fonterra failed to invest, promote and develop new Bega products in breach of their trade mark agreement.
Law firm Maurice Blackburn has successfully defended a consumer law and intellectual property lawsuit brought over its use of a replica of the famous Fearless Girl statue by US financial services giant State Street Global Advisors.