Clothing brand Jeanswest will close more than 90 stores across the country after being placed in voluntary administration for the second time in five years.
A lawsuit alleging accounting firm Pitcher Partners was involved in race car driver Max Twigg’s misappropriation of $127 million from his family has settled for $25 million plus costs.
The development management company behind the $2.7 billion STH BNK project, which was placed in administration last week, owes creditors — including lawyers, consultants and designers — over $100 million.
Pitcher Partners has lost its appeal of a decision that refused to stay a lawsuit over the accounting firm’s alleged involvement in race car driver Max Twigg’s misappropriation of $127 million from his family.
A court has issued an injunction forcing the discontinuance of a negligence suit against accounting firm Pitcher Partners by the former owner of Zap Fitness, a case found to be barred by the terms of a settlement.
Pitcher Partners has failed to stay a Federal Court suit alleging the accounting firm failed to properly advise former Zap Fitness owner Bective Enterprises on a troubled share buy-back scheme, in light of a Supreme Court bid by another key player to shut the case down.
In reasons for approving a $41 million deal to settle one of three shareholder class actions over Slater & Gordon’s acquisition of a UK firm and awarding the funder 28 per cent, a judge has challenged a persistent notion that the interests of litigation funders and group members are at odds.
Accounting firm Pitcher Partners has hit back at a lawsuit by the former owner of fitness franchise Zap Fitness claiming the firm failed to properly advise on a troubled share buy-back scheme that spawned litigation the company paid $4.25 million to settle.
A judge has approved a $41 million settlement in a shareholder class action against Pitcher Partners but has reduced the funder’s cut to $11.5 million after resolving a feud with the lead applicant over how much it should receive for taking the case to trial.
Following a three-week trial, Pitcher Partners has agreed to pay $41 million to settle a shareholder class action alleging the firm, along with Ernst & Young, approved an overly rosy year-end financial report related to Slater & Gordon’s disastrous $1.2 billion acquisition of UK business Quindell.