Restructuring & Insolvency

Mallesons has asked a court to set aside an examination summons filed by the liquidators of defunct developer FSM against a former senior associate of the firm.

The former administrators of Callide Power Station are locked in a dispute with IG Power over their remuneration, with a court hearing that only very minor concessions had been made to close a $1.5 million gap between them.

An off-the-plan purchaser has been refused leave to be heard in a case by liquidators against the collapsed construction giant Ralan's former sales manager and his wife, with a judge finding the purchaser's submissions failed to identify which company allegedly owed her.

Former directors of failed clothing retailer Mosaic Brands have failed to shield documents recording safe harbour advice they received from Hamilton Locke, with a judge finding privilege was waived after the advice was included in board minutes and provided to the administrators. 

Former CEO and chairman of budget airline Rex Lim Kim Hai has been hit with a $800,000 penalty and a four-year disqualification order for admitted breaches of his continuous disclosure obligations.

The liquidators of a subsidiary of collapsed media company Big Un have lodged an appeal after a judge tossed their case against financier First Class Capital alleging a three million share purchase was part of a scheme to inflate the company's stock price. 

The liquidators of the Tahmoor coal mine want to restrain Norton Rose Fulbright from acting for two companies linked to Sanjeev Gupta, a court has heard. 

Insurance underwriter Tokio Marine has denied misleading US investment firm White Oak by staying silent on alleged issues with an IAG policy keeping Greensill's supply chain financing business operating. 

Clive Palmer's fugitive nephew and one-time Queensland Nickel director Clive Mensink has been found guilty of contempt for failing to comply with orders for him to be examined by liquidators.

Tossing a case by Tahmoor Coal's liquidators over a royalty deed that gave Glencore payments in perpetuity and impacted the company's sale price, an appeals court has found the deed was not unprofitable just because creditors might get a better return without it.