A judge has told Forum Finance director Vince Tesoriero to ârevisitâ evidence about his true financial position if he wants to win the release of $1.25 million to pay for his defence in Westpacâs fraud case against him, amid concerns about whether he has made full disclosure to the court.
The corporate regulator has reprimanded a liquidator for âseriousâ breaches of independence rules, and has directed the insolvency practitioner to refuse appointments until next year.
Virgin Australia has been ordered to disclose whether its insurer has agreed to indemnify it for any liability it may have in a shareholder class action over a prospectus for a $324 million capital raising just months before it filed for administration.
The former director of Queensland Nickel and nephew of mining magnate Clive Palmer has lost another bid to dodge contempt proceedings brought by the collapsed companyâs liquidators.
Investors in Mayfair Groupâs collapsed IPO Wealth Fund stand to recoup âa lot lessâ than their alleged $67 million in losses from a settlement in a class action alleging the fundâs trustee misled the unit holders — but they will take home 75 per cent of the resolution sum, a court has heard.
The former CEO of failed electronics retailer Dick Smith should be held responsible for approving two dividend payments worth $28.5 million which the company could not afford to pay given it owed millions in unpaid bank loans and supplier debts, an appeals court has heard.Â
Insurer Bond & Credit Company has denied it owes damages over the collapse of the Greensill group, saying it issued a trade credit policy at the centre of four lawsuits because the supply chain financing firm concealed its risks and made fraudulent misrepresentations.
Forex Capital Trading liquidators have won an âurgentâ bid for orders allowing them to distribute $69.5 million to 8,600 former customers of the derivatives trader which allegedly gave misleading advice on products described as âlittle more than gamblingâ.
Clive Palmer-owned Queensland Nickel Sales has lost its bid to bring a breach of trust lawsuit against the liquidators of Queensland Nickel to recoup $102 million transferred after the billionaire suffered a courtroom defeat last year.
Shine Lawyers has beaten out class action rival Piper Alderman in a battle to lead a class action worth up to $463 million against collapsed wealth managers Dixon Advisory, with a judge finding the firm’s no win, no fee model was likely to result in a greater return to group members.