A court has dismissed a long-running case against defunct Babcock & Brown executives by a private investment fund over a botched $1.4B acquisition of the biggest laundry equipment provider in the US, saying the executives did not breach their duties by failing to disclose that the bank underwriting the deal allegedly wanted out.
A court has thrown out a $75 million compensation claim filed by an investor in a Ponzi scheme alleging liquidator Grant Thornton Australia and its lawyers Colin Biggers & Paisley failed to return his funds expeditiously.
Oil exploration company Paltar Petroleum will be wound up after a judge rejected a proposed deed of company arrangement as containing “too much uncertainty”.
A judge has dismissed an application by the Australian Securities and Investments Commission to investigate two Sydney-based liquidators, saying the regulator had failed to prove its suspicions about the pair.
A judge has found embattled hedge fund Goldsky breached the Corporations Act by providing financial services in Australia without a licence.
A judge has dismissed HWL Ebsworth’s claims of a “fishing expedition” and granted discovery of a slew of internal documents relevant to allegations a partner at the law firm encouraged a company’s directors to unlawfully divert insurance proceeds to pay almost $150,000 in legal bills.
A former PPB Advisory liquidator has been jailed for seven years for embezzling $800,000 from defunct property development company Neolido Holdings Pty Ltd.
Multiple Canberra property developers have been accused of deliberately trying to avoid repaying GST to home buyers at the outset of a class action trial involving almost 500 apartment owners.
Creditors of defunct stockbroker Halifax Investment may soon get emails from the company’s liquidators, after a judge signed off on their request to keep creditors abreast of developments in the defunct’s trading platform’s liquidation proceedings electronically.
A judge has refused to summarily dismiss a claim that the Federal Court has inherent power to order the winding up of a foreign company even if the company has no business in Australia and is not subject to the Corporations Act.