Restructuring & Insolvency

The owners corporation of a 36-unit apartment block in North Sydney that has been locked in a long-running fight with the developers over defects has won $2.5 million after the parties settled on the eve of the trial.

A developer linked to Keystone Asset Management has failed to persuade the Full Federal Court to exempt three family trusts from a $158 million freezing order.

The former executive chairman at regional airline Rex has admitted ASIC’s claims that he misled investors about the company’s position and breached his directors duties and may give evidence for the corporate watchdog, a court has heard. 

A case launched by the directors of the defunct Melbourne Rebels against the club's administrators, which sought to avoid liability for players' PAYG tax, has been discontinued.

Trial has kicked off in the defunct super rugby team Melbourne Rebels' Federal Court fight against Rugby Australia, with the club accusing the league of a "cowardly betrayal".

Liquidators for billionaire Sanjeev Gupta’s Tahmoor Coal are planning to bring a case against secured creditor Clydesdale Engineering, challenging its entitlement to be paid out during the liquidation. 

Lender White Oak may argue that settlement communications in proceedings over the collapse of supply chain finance company Greensill were in furtherance of fraud and should be turned over, after partially succeeding in a privilege fight with insurers BCC Trade Credit and Tokio Marine.

Insolvency firm Cor Cordis has argued the "inordinate" task of producing WIP valuation documents in former chair Bruno Secatore's case should wait until the pleadings have been finalised and security determined.

A judge has urged the Federal Court's rules committee to settle a question hanging over liquidators seeking to bring unfair preferences proceedings against multiple defendants.

A court has given Planet Ark Power lender Marketlend the green light to seize eight CATL batteries worth $2 million from the defunct Queensland renewable energy company.