The liquidator for collapsed property developer Monarch Tower has lost its appeal seeking an extension of time to bring voidable transaction claims said to be worth $27 million against 13 individuals and companies.
A judge has questioned whether an investor in failed Banksia Securities can bring a case against a court-appointed receiver over his support for a class action settlement later found to involve deception by a team of lawyers.
The receiver for Banksia Securities — the failed lender at the centre of a scandal-ridden class action — has argued a new case accusing him of serious misconduct is vexatious and wants a court to release him from the claims.
Builder Shinetec has argued $48 million paid to the developer of a $185 million project in Sydney by Bank of China under a standby letter of credit was money it lent to the collapsed developer, with a judge seeming to agree the sum would otherwise be a windfall.
A judge has declined a creditor’s bid to wind up Victorian builder Roberts Construction Group, finding that the application relied on a “very modest” debt and involved a solicitor’s email “cast in threatening terms”.
Sydney pub baron Jon Adgemis has been declared bankrupt and his properties have been sequestered, with the Federal Court finding the former KPMG partner owes $1.8 billion to creditors.
On the eve of a Federal Court bankruptcy hearing, Sydney-based publican Jon Adgemis and founder of Public Hospitality Group has declared bankruptcy, days after five of his pubs were placed into receivership.
Developer Robert Filippini is appealing a ruling that granted the liquidators for Keystone Asset Management’s expanded freezing orders of up to $158 million in assets as well as two family trusts and four luxury cars.
Deutsche Bank has appointed receivers to five pubs owned by Public Hospitality Group ahead of a bankruptcy hearing against the group’s owner and former KPMG partner, Jon Adgemis.
Hall & Wilcox has struck back at proceedings by the liquidators for collapsed construction group Hastie, saying they have failed to specify why its $18.6 million legal bill incurred in suing two dozen builders is unreasonable.