Restructuring & Insolvency

The liquidators of iProsperity Group want Crown to repay $55 million in company funds they say were gambled away by the real estate funds manager's directors.

A court has approved a deal under which collapsed TC Build Group will be joined as a plaintiff in action by construction company Alta Vale Residential to claw back $9.6 million allegedly owing for work on various projects.

A court has permanently stayed a case by a founding director of solar developer Sun Bred, saying that if the company was forced to defend the suit, there would be less than $71,000 left to meet the exec's $8.5 million claim. 

Dyldam Developments' former boss Sam Fayad and his two sons have been ordered to pay over $50 million in a case by the liquidator of a special purpose vehicle claiming company funds were misused.

Companies in the steel empire of billionaire Sanjeev Gupta have been ordered to lodge outstanding annual financial reports after the corporate regulator brought court action.

Atlantic Nickel has lost a challenge to further amendments to a case by failed suitor Mining Services International that alleges it lost the opportunity to purchase a Brazilian mine now valued at over $1 billion.

A former director of three construction companies that collapsed with debts of almost $94 million has been banned by the corporate watchdog from managing corporations for five years.

Receivers for the troubled $500 million East Rockingham waste-to-energy project may have to explore other options after the ACCC expressed competition concerns about Acciona's bid to acquire the project in Western Australia.

An appeals court has held that directors cannot be found guilty of unlawfully making a deal to prevent employees from receiving their entitlements if they believe they could be paid out under the Fair Entitlements Guarantee scheme.

A Victorian construction company is fighting a bid by a creditor it says should not be allowed to “come out of the woodwork” and take over the winding up application of a company that has since been deregistered.