A former Sydney liquidator has been charged with dishonesty offences and faces possible jail time after allegedly misappropriating almost $240,000 from company bank accounts.
Cladding manufacturer Fairview Architectural has filed for voluntary administration, citing challenges posed by COVID-19 and $1.5 million spent so far defending a class action alleging it misrepresented the quality of its “highly flammable” cladding.
Virgin Australia unsecured bondholders contesting the sale of the embattled airline to private equity firm Bain Capital have failed in their bid to access confidential transaction documents, but a judge has urged the administrators to communicate with the frustrated creditors.
Virgin Australia bondholders contesting the sale of the airline to private equity firm Bain Capital have blasted the airline’s administrators at Deloitte for failing to inform the court when applying for confidentiality orders that the bondholders had sought information on the terms of the deal.
A Virgin Australia unsecured bondholder has launched legal proceedings to uncover confidential details of the sale of the embattled airline to Bain Capital, with the administrators now facing three disputes in the wake of the administration.
The liquidators of Clive Palmer’s Queensland Nickel are appealing a win for the billionaire in their case over the collapse of the refinery in 2016, which centred on $102 million in loans allegedly paid by Queensland Nickel to Palmer’s Mineralogy.
A judge has appointed special purpose liquidators to investigate the affairs of failed VET provider Phoenix Institute and its directors after the Commonwealth complained of “a difficult working relationship” with the training company’s current liquidators.
A referee has been appointed to examine the fees for the liquidators of stockbroker Halifax Investment Services, which collapsed in December 2018, trapping around $200 million in client funds.
Virgin Australia unsecured bondholders have launched an application with the Takeovers Panel in a bid to stop the sale of the embattled airline to Bain Capital, claiming certain elements of the administration process were “unacceptable”.
Hall & Wilcox has lured an insolvency ace from McCullough Robertson to bolster its insolvency and commercial litigation team in Brisbane.