Sydney retail personality Con Constantine has lost an appeal seeking to bolster a $4.25 million judgment in his favour over the $81.8 million Parklea Markets sale in 2016.
The former auditors of stockbroker Halifax Investment Services, whose 2008 collapse left around $200 million in client funds trapped, have been hit with $50,000 in fines for auditing breaches that resulted in the company continuing to trade while being prima facie insolvent.
A judge has dismissed two cases brought by the Commonwealth Bank, Westpac and other lenders against directors of the failed steel giant Arrium, saying he was not satisfied the directors’ representations on loan drawdown notices were false or that the company was insolvent when it went into voluntary administration in April 2016.
Three Clive Palmer-owned companies have filed a breach of trust lawsuit against HWL Ebsworth, funder Vannin Capital and the liquidators of Queensland Nickel attempting to recoup $102 million transferred after the billionaire suffered a courtroom defeat earlier this year.
A judge has found collapsed education provider Phoenix Institute acted unconscionably and with “callous indifference” by enticing vulnerable consumers to enrol in unsuitable courses with promises of free laptops.
A Federal Court judge has criticised the liquidators of coal mining company Delta for waiting over two years to file insolvent trading proceedings against former directors when the same issues of solvency had already been raised in two other cases.
The joint managers of Clive Palmer’s Queensland Nickel refinery have been ordered to pay $26.6 million for natural gas charges owed, after a court rejected claims they did not need to repay the money because pipeline owners had breached their duties.
Sydney’s ongoing COVID-19 lockdown has created “logistical” difficulties delaying the release of a long awaited judgment in the ACCC’s consumer law case against collapsed private college Phoenix Institute, which was accused of misleading students through the marketing of its courses.
A litigation funder is suing a Sydney property developer over a $14.8 million debt stemming from a cause of action it acquired from the liquidators of the collapsed project manager behind the firm’s real estate projects.
Greensill Capital likely became insolvent on March 2, seven days before the Queensland-based financial services firm appointed administrators, the company’s liquidators have revealed.