Keybridge Capital managing director Nicholas Bolton has been grilled over a phone call in April 2015 lasting one minute and 18 seconds in which the activist investor claims Bell Potter bound its client to buy $10 million worth of shares in defunct Molopo Energy.
Online trading platform IronFX has won its action against the Australian Financial Complaints Authority over a finding it wrongfully caused an 83 year-old French resident to lose his life savings.
Law firm Maddocks has been ordered to pay more than $1.4 million in indemnity costs for “throwing good money after bad” in failing to consider a settlement offer in a negligence lawsuit over a client’s botched deal with Woolworths.
Corporate advisory firm Bridge Street Capital has been hit with costs for funding the defence to a winding up application for a Sydney property developer which a judge found was “woefully” insolvent.
A national law firm has been found liable to pay $13 million in damages for giving negligent advice to a former client that led to a botched sale of its business to Woolworths and caused it to go into administration.
Chinese lender Aoyin must pay PricewaterhouseCoopers’ legal costs for a vacated trial after Aoyin’s eleventh hour decision to join Baker McKenzie to a $10 million cross-claim in a dispute concerning the accounting firm’s advice on its failed bid to launch the first Chinese incorporated bank in Australia.
A judge has found PwC should face a claim that it engaged in misleading and deceptive conduct while assisting Chinese lender Aoyin with its planned launch in Australia by failing to properly advise the company there was a risk its shareholders did not comply with APRA’s ‘fit and proper’ requirement.
Baker McKenzie has been accused of negligence in a cross claim by Chinese lender Aoyin, which faces a lawsuit by accounting giant PricewaterhouseCoopers for unpaid fees over advice related to a failed bid to launch a bank in Australia.
A unit of Oaktree Capital Management has been ordered to join all former shareholders of consumer brand wholesaler Marlin Brands as defendants in a case over the investment giant’s $200 million acquisition of the company that alleges fraud or wilful deceit on the part of the sellers.
Chinese lender Aoyin wants to join Baker McKenzie to its claims against PwC over a failed bid to launch the first Chinese bank incorporated in Australia, after advice documents from the law firm were uncovered in a last-minute privilege fight.