The Australian Securities and Investments Commission has won its bid to appoint liquidators to solvent landbanking company Aviation 3030, with a judge saying ASIC’s public-interest case for the scheme’s winding up was “overwhelming”.
A name partner at law firm Tucker & Cowen and the firm itself have lost their bid for summary dismissal of a lawsuit brought by the receiver of failed fund manager Equititrust seeking to recover $17.5 million allegedly acquired through deceptive means.
The Construction, Forestry, Maritime, Mining and Energy Union has appealed a ruling granting $1 million to the liquidators of failure labour hire company One Key Workforce that the union claimed was owed to its members.
Liquidators for the failed Queensland Nickel will be able to interrogate Clive Palmer’s wife over the assets of her husband’s other company, Mineralogy, after telling a court they feared Palmer was squandering company funds on his political campaign.
An appeals court has dismissed a challenge by Veritas Advisory principal liquidator David Iannuzzi to the admissibility of evidence submitted by the Australian Taxation Office in the agency’s case seeking compensation and a 10-year ban.
A former director of insolvent Telstra dealer Cap Coast Telecoms and two former insolvency advisors have been charged with laundering money and breaching their director duties.
A litigation funder wants the High Court to review a court decision’s to approve a $64 million settlement in litigation over the failure of Banksia Securities while rejecting the funder’s commission and legal fees.
A former PPB Advisory liquidator has had his licence suspended after a disciplinary committee found he acted dishonestly in transferring $800,000 from the account of a company in liquidation into a bank account he controlled.
Clive Palmer has lost a bid to overturn an order freezing more than $200 million in his personal assets in a case brought by the liquidators of collapsed Queensland Nickel.
A $5.8 million bill for four years’ work by the liquidators of SK Foods unit Cedenco has been criticised by a judge as “outside the band of reasonable remuneration” and will have to be recalculated.