Industries

Institutional asset manager IFM Investor was ready to sweep up Dexus' shares in Melbourne Airport operator APAC under a forced sale process triggered by a default notice for alleged confidentiality breaches, a court heard Tuesday.

Queensland developer York Property has lost its appeal of a ruling that held an adjudicator erred in finding $4.7 million in costs over alleged façade defects should be deducted from amounts owed in a payments spat with a builder Tomkins. 

A deed of company arrangement for three companies associated with developer Descon-Adcon has fallen apart after former boss Danny Isaac failed to make a $5 million contribution required under the rescue plan. 

Two groups have been shortlisted for the final tender in stage one of the Melbourne Airport rail project, part of Victoria's ambitious Big Build infrastructure plan.

A judge hearing a class action against J&J over allegedly ineffective cold medications has questioned the merits of soft class closure in large consumer cases where participation is likely be low, just days after another judge raised similar concerns in a case against Toyota. 

The chair of airport operator APAC has admitted redacting advice from Herbert Smith Freehills Kramer to remove a suggested remedy for major shareholder Dexus' alleged breach of confidentiality, but denies she misled the board.

A top in-house lawyer at Dexus has told a court the real estate asset manager was using an altered form of a non-disclosure agreement with bidders of a portion of its APAC bloc of shares without the approval of the airport operator's co-owners.

The federal government has proposed a significant expansion of the foreign resident capital gains tax regime that will prohibit foreign investors from cashing out tax free on large-scale infrastructure projects on Australian land, with one major firm calling the proposed changes "unwelcome" and "alarming".

A tribunal has declined to approve a planned Veolia waste consolidation facility 220 metres from a residential area, after receiving hundreds of objections that expressed concerns about odour.

A 27-year old cricketer who will be permanently bound to a wheelchair has won a $15.2 million judgment against a local council over its failure to install pedestrian gates at a convenient location near the cricket grounds, with a judge finding this led to players routinely jumping a fence to exit.