Hastie Group’s liquidators have offered to drop their $124 million case against two dozen major builders if the companies agree to pay an undisclosed sum toward their unpaid bills, a court heard Friday.
The Construction, Forestry, Maritime, Mining and Energy union has lost its bid to be heard by the High Court of Australia after an appeals court upheld a $306,000 fine for the illegal conduct of its former Queensland president and warned of the prospect of deregistration.
UGL knew by April 2014 that there were delays with the Ichthys LNG project, but failed to make required disclosures to shareholders, according to an amended pleading in a shareholder class action against the engineering company.
The judge overseeing a class action filed on behalf of business owners over the Sydney light rail construction has cautioned the NSW government against filing a de-class motion, saying a class action may be the “very best thing” for the government.
Liquidators for the collapsed Hastie Group will pursue test cases against two construction companies in their legal fight against more than two dozen major builders over tens of millions of dollars in unpaid bills, but an application is looming to halt the proceedings pending the outcome of a High Court challenge.
The New South Wales transportation regulator in charge of the Sydney light rail project says contractor Acciona Infrastructure is delaying a lawsuit over $1.2 billion in fees for the project by repeatedly ignoring requests for pleadings.
Hyundai Engineering and Steel Industries has been granted almost $5.6 million in compensation in a case against Australian company Alfasi Steel over construction delays on Sydney’s International Convention Centre.
Macmahon Holdings has agreed to pay $6.7 million to settle a shareholder class action alleging the mining company failed to provide adequate disclosures about the impact delays on a project for Rio Tinto in the Pilbara would have on its profitability.
Housing giant Metricon will pay $50,400 in penalties after being hit with four infringement notices for misleading advertising aimed at first home buyers.
The Australian has been hit with a $155,000 fine for publishing an article referring to the criminal convictions of CFMMEU official John Setka despite repeated warnings by prosecutors about prejudicing their blackmail case against the union boss.