A class action of bond holders accusing Virgin Australia of failing to disclose its true financial position in a 2019 prospectus for a capital raising wants a contentious indemnity clause in the airline’s DOCA narrowed, in proceedings a judge has said “increasingly resemble a farce”.
A private investment fund has won its claim as a secured creditor over $2 million in research and development tax refunds that a court previously found should go to employees in a fight over funds remaining following the collapse of fintech Spitfire Corporation.
Boutique litigation firm Banton Group has hired Laura Keily and Ryan McCrosson as name partners, as as the firm eyes expansion into the US, UK and Cayman markets.
Trial in a protracted class action against Deloitte over the collapse of construction group Hastie has been abandoned, signalling a settlement is in the works.
A lawsuit by the liquidators of Sargon Capital alleges law firm King & Wood Mallesons “refused or neglected” a demand to return over $540,000 in alleged unfair preference payments and should have known the fintech was insolvent when the payments were made.
The New South Wales deputy state coroner has concluded that accused conwoman Melissa Caddick is dead, but questions remain about the circumstances of her death.
The value of assets held by companies linked to the late Banksia Securities class action funder is expected to top the $19 million owing on a court judgment against the fraudster and his c0-conspirators.
The applicant in an investor class action over the collapse of advisory firm Linchpin Capital and Endeavour Securities has raised concerns about the authenticity of Linchpin’s business records, which it wants to put into evidence at trial in two months.
A court has tossed a conviction secured in ASIC’s case against a director of collapsed flight booking platform Fly365, saying the case was “doomed to failure.”
Commonwealth Bank and other lenders of failed steel giant Arrium have lost a second attempt to put two of the company’s directors on the hook for alleged misleading representations on loan drawdown notices ahead of its $2.8 billion collapse.