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A judge has refused to summarily dismiss proceedings by collapsed construction group JM Kelly against its former accountant, finding it was an issue for trial whether he caused the company to continue operating despite financial issues leading to its liquidation.
The Australian Securities and Investments Commission will seek to drop all charges which were the subject of an arrest warrant against accused fraudster Melissa Caddick, after her remains were found on the NSW South Coast in February.
A bid by KPMG to push off the filing of its defence in a class action over misleading statements ahead of Arrium's $754 million capital raising in 2014 has been shot down by a judge, who said the auditor has known the claims against it since November.
The Australian unit of Greensill Capital is heading for liquidation owing creditors in excess of $1.75 billion, administrators revealed Friday.
Once high-flying barrister Norman O'Bryan might seek to challenge a refusal by the judge overseeing the Banksia class action to revisit his abandoned defence and accept into evidence a document he claims proved he did not secretly hold shares in the funder behind the case.
A judge has approved a "disappointing" $25 million settlement in long-running class action litigation over the collapse of electronics retailer Dick Smith with claims worth hundreds of millions of dollars.
The litigation funding company controlled by the late solicitor Mark Elliott has told a court of its "remorse and regret" for its misconduct in the Banksia Securities class action, a case that has been described as the "darkest chapter in Victoria's legal history".
Greensill Capital UK filed for insolvency in a London court on Monday after losing insurance coverage for $4.6 billion in client loans.
After months of uncertainty and a scolding from the judge about "vague" excuses, former Linchpin Capital directors facing proceedings by ASIC and a class of investors have been given assurance that their legal costs will be covered under an insurance policy.
Law firm Herbert Smith Freehills has attacked a lawsuit brought by a group of lenders against collapsed steel giant Arrium, rejecting claims that $430 million in loans was borrowed under misleading or deceptive representations.