The liquidator of Fogo Brazilia has lost a bid for a gross sum costs order against the restaurant chain, after a judge found that legal representatives Piper Alderman did not appear to appropriately delegate, with hours of grunt work performed by a partner at the firm.
A class action on behalf of former clients of collapsed wealth manager Dixon Advisory has filed a court bid for information on any insurance policy held by the business that might cover the mammoth claims, estimated to be worth between $278 million and $463 million.
Several lenders have appealed a ruling that found they failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse, saying it was a âno brainerâ that the company was in dire straits when its directors sought extra funds.
The lead auditor for Big Un’s flawed 2017 independent audit, which overstated the failed video company’s cash and cash equivalents by $8.2 million, has been convicted of failing to comply with auditing standards following an investigation by ASIC.
Law firm Sophie Grace has settled a lawsuit brought by collapsed forex broker Gallop International Group claiming its failure to ensure the company complied with its obligations as a holder of an Australian financial services licence led to $15.4 million in investor funds being loaned to the company’s director in Hong Kong.
Mayfair 101 has settled with liquidators of collapsed IPO Wealth Holdings after they won a bid to re-examine former director James Mawhinney over the transfer of âconsiderable funds and assetsâ from the fund to other entities.
PwC partners are facing “very serious” allegations that they had actual knowledge that a $30 million dividend payment to the director of now defunct tertiary education provider Cornerstone was unlawful.
Bill Papas’ business partner Vince Tesoriero has won the release of $1.25 million to pay for his legal fees in Westpacâs fraud case against him, despite a judgeâs finding that disclosure concerning his true financial position was âless than idealâ and included âstaggeringâ discrepancies.
Forum Finance director Vince Tesoriero has been caught out for failing to declare over $150,000 to the court, as he took the stand to defend evidence given about his financial position in Westpacâs fraud case against him.
His property development empire was saved from liquidation, but Daniel Grollo is still being hounded by creditors, with Bank of Queensland suing the Grocon CEO for the outstanding balance on a $12 million home loan.