Most Recent
Judge won’t kill claim that court can wind up foreign company with no Aussie biz
Restructuring & Insolvency 2019-04-29 9:14 pm By Christine Caulfield

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.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Forex trader Berndale Capital placed into receivership
Restructuring & Insolvency 2019-04-26 12:48 pm By Cat Fredenburgh

The Australian Securities and Investments Commission has won its bid for a court order placing Melbourne-based forex trader Berndale Capital into receivership for allegedly failing to safeguard client money.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Deloitte can’t escape class action claims over failure of Dick Smith
Class Actions 2019-04-11 9:36 pm By Christine Caulfield

Accounting giant Deloitte has failed in its bid to strike out claims made in two shareholder class actions alleging it was careless in auditing the financial statements of electronics retailer Dick Smith ahead of its collapse in 2016.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Liquidators settle case over collapse of funder Centaur Litigation
Restructuring & Insolvency 2019-04-08 11:30 pm By Christine Caulfield

Liquidators of failed Centaur Litigation have reached a settlement in their lawsuit against the accountant of fraudster Scott Williams, who was accused of lying to hide his knowledge of a Ponzi scheme that misappropriated $32 million and led to the collapse of the funder.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

New laws target insolvent companies that try to dodge worker entitlements
Restructuring & Insolvency 2019-04-04 11:39 pm By Cat Fredenburgh

The Federal Parliament has passed laws that impose stricter penalties on company directors that try to shirk their duty to pay employee entitlements during an insolvency. 

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Lawsuit claims HWL partner helped divert insurance proceeds to settle legal tab
Legal Ethics 2019-04-03 11:29 pm By Cat Fredenburgh

An insolvent mobile ticketing company wants a slew of documents from HWL Ebsworth related to its allegations that an HWL partner aided its former directors in diverting the proceeds of a life insurance policy to pay money owed to the firm.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Termite Resources directors must pay $7M for keeping insufficient cash on hand
Restructuring & Insolvency 2019-03-21 3:21 pm By Christine Caulfield

A judge has ordered directors of collapsed mining company Termite Resources to pay $7 million in damages after finding they breached their duty by distributing more than $46 million to its parent company and failing to maintain a cash reserve of at least $10 million.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Receivers can pay priority claims of employees directly, judge rules
Construction 2019-03-20 10:32 pm By Christine Caulfield

Receivers, not just liquidators, can distribute assets to satisfy priority claims of an insolvent company’s employees, a judge has ruled, settling a question of law under the Corporations Act.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

ASIC wins case to wind up landbanking scheme Aviation 3030
Securities 2019-03-19 11:54 pm By Christine Caulfield

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”.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?

Judge won’t toss $17.5M Equititrust lawsuit against Tucker & Cowen
Restructuring & Insolvency 2019-03-19 11:34 pm By Cat Fredenburgh

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.

Subscribe to Lawyerly to access this article.

Already a subscriber?

Lost your password?