ASIC has secured winding up orders against Gold Coas- based ALAMMC Developments and a number of related companies amid concerns the property developer mismanaged millions of investors funds.
A judge has ordered ANZ to explain itself after hearing the director of a Gold Coast property developer under investigation withdrew $112,000 from a bank account subject to freezing orders.
The corporate cop can revise its action against Gold Coast property developer ALAMMC to seek winding up orders after concerns have emerged about misuse of $70 million in investor funds.
A judge has given the Victorian unit of Roberts Co more time to put forward a deed of company arrangement that would save the builder from liquidation, noting liquidation could imperil its projects and subcontractors, who could not bring claims under the SOP Act if it was insolvent.
A judge has rejected AirServices bid for a separate hearing on whether it was required to manage environmental issues outside of its leased site at the Launceston Airport in Tasmania.
A judge has ruled that two Deloitte partners can act as administrators for embattled wealth manager Keystone, replacing two voluntary administrators from KordaMentha, despite an alleged risk of conflict due to past work for the company.
ASIC has won its bid to appoint receivers to a managed investment scheme run by Keystone Asset Management after expressing “grave concerns” that investor funds were used to pay sports stars and buy a $4.3 million home for its former director.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion’s share, with $672 million in settlements under its belt.
A $38.4 million settlement in a shareholder class action against aged care provider Estia Health has been given the greenlight by a Federal Court judge, who also approved the funders’ recovery of after-the-event insurance, a decision that puts him at odds with some of his colleagues on the bench.
A judge weighing a $38.4 million settlement in a shareholder class action against aged care provider Estia Health has been told that two NSW Court of Appeal judgments barring class closure were “plainly wrong”, but in deciding whether to lock group members out of the settlement the judge says he won’t need to grapple with the landmark rulings.