A judge has ordered that Joseph ‘Diamond Joe’ Gutnik’s Merlin Diamonds be wound up after the mining company’s provisional liquidators uncovered “serious contraventions” and a “serious failure of governance”.
The litigation funder controlled by recently deceased class action lawyer Mark Elliott has lost its bid for a 12.5 per cent commission of a $5.5 million settlement secured by the special purpose receivers of Banksia Securities in its claim against the collapsed firm’s former insurance broker.
The hunt for the missing Blackberry of deceased class action lawyer and funder Mark Elliott is over, and the located phone will now be examined by IT experts to see if it can be searched for potential evidence to be used as part of an investigation of alleged professional misconduct by the legal team behind a class action against failed Banksia Securities.
Measures to relax insolvency and bankruptcy laws to stem a possible wave of COVID-19 company collapses will not achieve their goal — and if Australia enters a European-style lockdown it won’t be a wave of insolvencies, it will be a tsunami, Lawyerly has been told.
A judge has criticised the parties in a land sale dispute over Sydney’s Parklea Markets for failing to make progress to bring the case to a close, almost three months after a $4.25 million judgment was awarded to a company owned by local retail personality Con Constantine.
Australian swimwear retailer Tigerlily has filed for voluntary administration, citing unfavourable conditions for retailers as the coronavirus pandemic shutters all but non-essential services in major states.
Companies under financial strain from measures to stop the spread of the coronavirus will get a reprieve from insolvency and bankruptcy laws as the Federal Government looks to stem a possible tide of company collapses.
A former Russells restructuring and insolvency lawyer has resolved a lawsuit alleging the firm tried to manufacture a reason to terminate his unemployment.
The ACCC has been given the go-ahead to continue its regulatory action against car rental company Australian 4WD Hire over allegedly threatening emails, three months after the firm went into voluntary liquidation.
A class action seeking almost $2 million in damages has been launched on behalf of Australian-Chinese investors against a Sydney law firm over advice on investment properties sold by the now collapsed developer Ralan Group.