The Australian Securities and Investments Commission has suspended the Australian Financial Services licence of a Sydney-based financial services provider that ran a property investment scheme targeting retirees, which the regulator has accused of issuing ‘defective’ product disclosure statements.
A company owned by Clive Palmer has filed a lawsuit seeking to thwart a class action brought by villa owners in the billionaire’s now abandoned Palmer Coolum Resort.
The judge overseeing three class actions against the Commonwealth alleging contamination from the use of toxic firefighting foam at three naval bases has shot down the plaintiffs’ bid for a formal communication reminding two referees of their role in the proceedings.
The property developers behind two Canberra apartment complexes have been dealt a partial loss in two class actions against them, with a judge finding the developers misled the lead applicants about the GST payable on their units but that only some of them were entitled to compensation or restitution.
Law firm Thomson Geer is facing a negligence lawsuit by a commercial property investment firm over advice it gave in relation to a $120 million Melbourne car park acquisition.
Clive Palmer and associated companies have been accused of unconscionable conduct and “moral obloquy” in a new $37.4 million class action by timeshare members of the billionaire’s now abandoned Palmer Coolum Resort.
Insolvency firm Worrells has come out in support of partner Jason Bettles, who is facing an investigation by the corporate regulator for his work as liquidator of the Members Alliance Group of companies, saying the probe was unexpected.
A Melbourne-based law firm was negligent when it advised the owners of Barflys bar and cafe in Bourke Street to settle a case against its landlords for $341,500 because of changes to the law on retail leases, an appeals court has found.
The Australian Securities and Investments Commission wants to investigate the conduct of a Worrells partner in relation to the winding up of Members Alliance Group, a group of property investment companies whose 2016 collapse stripped creditors of over $40 million and left its director facing fraud charges.
A Sydney-based development firm has won limited access to legal documents from Norton Rose Fulbright in a property dispute over redevelopment of the Sydney Fish Markets and a $2.3 million “secret commission”.