Last-mile logistics software firm GetSwift has offered a last minute undertaking that it will be covered for any judgments and penalties in a class action and ASIC case, after a judge expressed concerns about the company’s bid to redomicile to Canada amid the ongoing litigation.
ASIC and the applicant in a class action against GetSwift have intervened in an application by the logistics provider to relocate its headquarters to Canada, aiming to ensure shareholders are aware of the potential outcomes of the regulator’s enforcement action, which include banning orders against directors Bane Hunter and Joel Macdonald.
A Federal Court judge has given the receivers for Harris Scarfe four more months to find buyers for 39 of the struggling department store chain’s retail outfits, as they look to prevent the company from being wound up.
The High Court has upheld an appeal by a mortgage broker with a history of run-ins with the law, finding that the Administrative Appeals Tribunal could not take spent convictions into account when reviewing ASIC ban orders.
Liquidators of failed Centaur Litigation have reached a settlement in their lawsuit against the accountant of fraudster Scott Williams, who was accused of lying to hide his knowledge of a Ponzi scheme that misappropriated $32 million and led to the collapse of the funder.
A judge has recommended another shareholder vote over Boart Longyear’s plan to move to Canada, saying a letter by a minority shareholder warning the move could imperil a possible class action against the distressed mining services company was misleading and affected the integrity of the vote.
The accountant and best friend of fraudster Scott Williams “prevaricated and lied” to hide his knowledge of the Centaur Litigation Ponzi scheme that misappropriated $32 million and led to the collapse of the litigation funder, a court has heard.
The accountants for fraudster Scott Williams, the man behind the multi-million dollar Ponzi scheme Centaur Litigation, lost a bid to amend their defence to limit their liability in a $32 million case brought by liquidators of the failed funder.