The liquidators of failed engineering company Hastie Group have appealed a decision that knocked out half its $120 million case against Multiplex, Lendlease and numerous other builders.
An appeals court has set aside a barrister’s $320,000 bill for a case initially estimated to cost $60,000 in counsel fees, applying a “purposive approach” to the rules governing lawyers’ disclosure obligations.
Insurer Atradius has lost its bid to bring a $1.5 billion (US$1 billion) case against four KordaMentha liquidators and 60 financiers of the Arrium group alleging they failed to act under a duty of utmost good faith when agreeing on how to divvy up sale proceeds for several entities.
The Victoria Supreme Court will not appoint a contradictor to weigh in on the reasonableness of a $1.25 million settlement offered by companies associated with the wife of a once prominent silk struck from the roll over the Banksia Securities class action scandal.
The parents of Sydney fraudster Melissa Caddick will seek an inquiry into whether receivers of her property have acted faithfully in managing the assets.
A class action over the collapse of Walton Construction has argued the National Australia Bank cannot shield communications with Norton Rose Fulbright and Deloitte because they were made to further a fraud or otherwise had an illegal or improper purpose.
A barrister’s $320,000 bill for a case initially estimated to cost $60,000 in counsel fees was at the centre of an appeals court hearing Monday, and the dispute mirrors another battle between the practitioner and his instructing solicitor involving a cost blowout of a quarter of a million dollars.
A court has wound up Ascent Investment and Coaching, after ASIC filed proceedings against the company and director Michael Dunjey over concerns that investor funds may have been improperly dealt with.
The High Court has agreed to hear the appeals of two former Dick Smith exes following judgments that awarded a total of $55 million in damages to NAB and the receivers of the defunct electronics retailer.
Senior restructuring and insolvency lawyers have welcomed a novel ruling that found a liquidator was entitled to claim his costs ahead of the preferred claims of company employees, but questions remain about the “potentially difficult” interaction between two conflicting priority regimes.