Corporate

Former Star CEO Matthias Bekier is seeking leave to appeal a judge's finding that he and the casino operator's former GC breached their duties, while ASIC is mulling a challenge to the court's dismissal of its case against members of the Star board. 

Macquarie Investment Management breached its obligations after its members invested $321 million in Keystone Asset Management's failed Shield fund, a court has found, but the super trustee will not pay a penalty.

Dexus can question APAC's chair on the material relied on by the Melbourne Airport operator in issuing a default notice requiring the real estate asset manager to sell its stake, ahead of trial in a fight over the validity of the notice.

After a win in their spat over the sale of Brazil's Santa Rita nickel mine, two Australian companies who held all shares in the mine's owner, Atlantic Nickel, may seek costs against Omni Bridgeway and Balance REV, the litigation funders of the loser in the case.

Developer Robert Filippini, who is suspected of fraudulently receiving investor money from defunct Keystone Asset Management, is seeking to appeal an extension of freezing orders over family trusts that hold property and several luxury cars.

MidOcean Energy, backed by US private equity firm EIG, has acquired Japan power company Jera's interest in  the Gorgon and Ichthys LNG projects in Western Australia.

Describing it as the most significant corporate governance action taken in his time at ASIC, the regulator's chief says the Star case is a wake-up call for directors.

The judgment in ASIC's case against Star's top executives and directors sounds a warning that board members need to proactively test information and serves as a "stark reminder" to general counsel that their duties are owed to the company, not management, experts tell Lawyerly.

The corporate regulator has filed proceedings seeking to wind up a company in the steel empire of billionaire Sanjeev Gupta for failure to lodge financial reports for four years. 

Delivering his findings on ASIC’s action against Star Entertainment executives on Thursday, Federal Court Justice Michael Lee remarked that the “self-congratulatory submissions" of former board members named in the case were "jarring”.