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Construction PRO
A judge has tossed a lawsuit by the owners of the common area at a Pitt Street arcade seeking $11.55 million for the compulsory acquisition of a pedestrian access easement for the Sydney Metro, finding they were not able to recover the losses of individual lot owners.
Macquarie Group chairman Glenn Stevens will face the latest parliamentary joint committee hearing Friday into KPMG ethic's scandal, joining executives from Westpac, Optus and Dexus.
A class action over the collapse of Arrium is bound to its pleading that the asset value of all the steelmaker's business units was impaired by a total of $2.8 billion, a judge has ruled in the second week of trial.
Construction PRO
Squadron Energy is poised to expand into battery storage and hybrid renewable energy projects after refinancing its $2.7 billion wind portfolio.
A mid-trial fight has erupted in a class action over the collapse of steelmaker Arrium, with the company's auditor and directors saying the case had swerved, and the plaintiff accusing the respondents of "playing games".
KPMG told Ashurst that a whistleblower had not provided sufficient detail for the firm to determine whether his disclosures were protected under the whistleblower regime, despite having covertly downloaded information on his complaints from his computer.
Construction PRO
Law firm Mallesons, which is named in proceedings brought by failed property developer FSM, has denied it knew that a former director used company loans to pay off personal debts.
KPMG has told a judge there is no evidence that Arrium's share price would have changed even if it had recorded a $2.8 billion impairment, urging the judge to reject the shareholder class action's "intuitive" case on loss.
Former directors of steelmaker Arrium have rejected shareholder class action claims that the company's collapse was foreseeable, calling claims they had their heads in the sand “arrant nonsense”.
KPMG failed to bring the necessary scepticism to the task of auditing failing steel manufacturer Arrium, instead leaving contradictory evidence unresolved and giving the company a clean bill of health, a shareholder class action has told the court.