PwC partners are facing “very serious” allegations that they had actual knowledge that a $30 million dividend payment to the director of now defunct tertiary education provider Cornerstone was unlawful.
NewSat investor Rockgold Holdings has lost its bid to appoint a special purpose liquidator to run a lawsuit against eight major banks after a judge found its proposed 70 per cent funding fee “wholly disproportionate”.
A judge has questioned the $55,000 penalty jointly proposed by the parties in ASIC’s case against fintech company Squirrel Super over misleading statements about returns on property statements, saying it “might be a bit light on.”
Managing partner of HWL Ebsworth Juan Martinez has lost his bid for an order for costs against a former capital partner in a $4.4 million suit after the partner unsuccessfully sought to have the law firm boss named as representative defendant.
Accounting firm PricewaterhouseCoopers is facing claims of professional negligence by insolvent tertiary education provider Cornerstone for allegedly assisting the company’s former director in overstating the company’s revenue and unlawfully extinguishing his debt.
A judge won’t make HWL Ebsworth managing partner Juan Martinez the representative defendant in a former partner’s $4.4 million lawsuit against the firm, saying Martinez’ interests and those of the other partners could diverge.
The managing partner of HWL Ebsworth, who has been targeted in a lawsuit by a former equity partner over the law firm’s aborted IPO, is resisting efforts to be named as representative defendant in the case.
National law firm HWL Ebsworth expelled a former equity partner ahead of its failed initial public offering specifically so he would not participate in the IPO and “others would benefit to a greater extent”, a court has heard.
HWL Ebsworth has been hit with a second lawsuit filed over its failed IPO, with a former equity partner accusing the law firm of excluding him from the profits of the IPO and expelling him because he did not go along with the exclusion.
A judge has questioned fintech company Squirrel Super’s defence in ASIC’s case alleging it made false and misleading statements about returns on property investments, saying it “looked like a bit of a stretch” at first glance.