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Arrium lenders file High Court challenge over directors’ loan drawdowns
Restructuring & Insolvency 2023-07-25 3:58 pm By Cindy Cameronne

Commonwealth Bank and other lenders of Arrium have filed for special leave to appeal to the High Court after losing their latest bid to make two directors liable for allegedly misleading them about loan drawdown notices ahead of the steel company’s $2.8 billion collapse. 

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Sargon liquidators resolve $540,000 case against King & Wood Mallesons
Restructuring & Insolvency 2023-07-24 11:21 pm By Christine Caulfield

The liquidators of collapsed Sargon Capital have resolved their unfair preference case against King & Wood Mallesons over $540,000 in fees the law firm was paid for work advising the fintech before it went under.

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Administrator can’t claw back security for costs in case by failed company
Restructuring & Insolvency 2023-07-21 1:16 pm By Sam Matthews

A judge has rejected a bid by the administrator of a collapsed company to claw back a payment of security for costs made in earlier litigation, which he found did not give rise to a relevant security interest.

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Jones Day adds White & Case lawyer for restructuring practice
Restructuring & Insolvency 2023-07-18 1:45 pm By Gareth Baker

Jones Day has recruited White & Case lawyer Kathryn Sutherland-Smith for the firm’s business restructuring & reorganization practice in Sydney.

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Pre-case discovery not for determining recovery prospects, judge says in $350M Probuild spat
Construction 2023-07-04 4:19 pm By Sam Matthews

A judge has found that preliminary discovery does not extend to information about the likely recovery of a claim, rejecting an argument that the relevant rule allows prospective plaintiffs to test whether litigation will be “worthwhile”.

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Ralan liquidators win OK to pursue sales agent, ATO in $18M litigation
Restructuring & Insolvency 2023-07-04 5:03 pm By Sam Matthews

The liquidators of construction giant Ralan have been given the go-ahead to pursue a former sales manager and his wife as well as the ATO with claims worth over $18 million, with a judge finding the collapsed company operated “a type of Ponzi scheme”.

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JWS lures partner from Jones Day for disputes and insolvency team
Business of Law 2023-07-03 9:36 pm By Sam Matthews

Johnson Winter Slattery has nabbed a Jones Day partner to work coast to coast at its Brisbane and Perth offices, bolstering the ranks of its disputes and insolvency team.

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Stalled $2B Central Barangaroo development in legal privilege stand-off
Construction 2023-06-30 10:47 pm By Gareth Baker

The NSW government and the former developer of a stalled $2 billion Central Barangaroo development project are headed for a discovery showdown in their $270 million stoush, with both sides fighting to protect what they say are privileged communications.

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Bruck Textile bigwigs to stand trial on charges over unpaid redundancies
Restructuring & Insolvency 2023-06-30 1:25 pm By Gareth Baker

Executives of collapsed Bruck Textile Technologies have been committed to stand trial on charges alleging they schemed their way out of making more than $3 million in redundancy payments to their 58 employees. 

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Greensill UK wins halt to cross-claims in cases over $1.7B collapse
Restructuring & Insolvency 2023-06-29 4:26 pm By Sam Matthews

Greensill Capital’s UK division has won a stay of several lawsuits over the supply chain financing firm’s $1.7 billion collapse, but an insurer has already flagged a bid to press on with its claims against the company.

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