Restructuring & Insolvency

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.

An entity associated with lender Keyview Investment Management wants to strike out a claim brought by the liquidators of defunct developer FSM Development, which has brought proceedings against a raft of defendants, including law firm Mallesons. 

United Cinemas has secured interim relief blocking its landlord from terminating its lease at the Craigieburn Central cinema in Victoria.

Jones Day has recruited Milbank's head of APAC restructuring for the global firm's Sydney office to bolster its insolvency practice.

A judge has questioned whether the game is worth the candle in a liquidator’s case against a Sydney law firm over allegedly excessive legal bills, saying the contest appeared “economically irrational” and “at one level, stupid”.

Westwood Capital has lost its appeal over a contract to sell commercial property in Punchbowl for $100 million, after a judge found it was an uncommercial transaction and that Westwood had reasonable grounds to suspect the purchaser would become insolvent.

A law firm has prevailed in a fight over unpaid legal fees, with an appeals court ruling the firm is entitled to priority over certain funds recovered in a receivership of a South Stradbroke resort because of its equitable lien over costs orders it secured for its client.

Publican Julian Gerner has “significantly” amended his claims in a dispute over the redevelopment of the Continental Hotel Sorrento, a court has heard.

The Liberty Bell Bay smelter in Tasmania will be shuttered after the consortium proposing to acquire the struggling manganese alloy producer withdrew its interest.

Liquidators appointed by the court to five companies behind $130 million worth of construction projects in Brisbane have won more time to bring potential claims while they investigate several matters, including an allegedly “very odd” tax situation.