A judge has sent insolvency firm Ferrier Hodgson back to the drawing board to redraft its pleadings against the former directors and auditors of collapsed construction company Forge Group, warning that the overlapping actions were at risk of becoming an “unrideable bull”.
A judge has refused to join the insurer of collapsed Sydney builder Reed Constructions to insolvent trading proceedings brought by the company’s liquidators, after finding it was unreasonable to expect the insurance company to irrevocably confirm coverage.
The Full Federal Court has dismissed two appeals by convicted land mogul Allen Caratti seeking to prevent liquidators of five of his companies from obtaining documents seized in two 2015 raids by the Australian Federal Police.
National Australia Bank and the director of the collapsed Walton Construction face a possible lawsuit over more than $70 million in claims after the Federal Court gave the greenlight to the appointment of a special purpose liquidator to pursue the case.
Mining magnate Clive Palmer says he feels “vindicated” after reaching a multimillion dollar settlement that resolves the majority of claims brought against him following the $200 million collapse of his company Queensland Nickel in 2016.
Investment firm London City Equities has secured court approval to bring an expanded case against accounting giant Ernst & Young over its auditing of collapsed soda ash maker Penrice.
Lawyers for former Vocation CEO Mark Hutchinson say the corporate regulator is “plucking numbers out of the air” in its bid to secure disqualifications of up to eight years against the former executives who breached their directors’ duties in relation to the collapsed education provider.
Insolvency firm Kordamentha has filed proceedings against ten former directors of the Arrium Group, accusing them of breaching of their duties to prevent insolvent trading after the steel giant collapsed with almost $4 billion in debt.
Two construction companies have lost what a court has called a “puzzling” bid to oust the liquidators of collapsed FW Projects amidst a legal battle in the NSW Supreme Court over the property developer’s remaining assets.
Veritas Advisory liquidator David Iannuzzi has admitted to “quite significant deficiencies” in his conduct as a liquidator and agreed to a 10-year ban from serving as an insolvency practitioner.