Restructuring & Insolvency

Liquidators of defunct investment firm Keystone Asset Management have won expanded freezing orders to cover property up to $158 million in the name of developer Robert Filippini and family members.

The liquidator of a company created to invest in an Adelaide building has failed in a High Court bid to reinstate a finding that the mortgage over the property was an unreasonable director-related transaction.

A court has appointed receivers to two entities of collapsed asset manager Australian Fiduciaries amid concerns by the corporate regulator that $167 million in funds have been misused, including to buy $600,000 in luxury cars.

An entity associated with James Crawford, the director of defunct Sydney builder Quasar Constructions, has been ordered to disclose all of its assets to the company's liquidators as they look to track down funds from the sale of properties.

The Victorian Department of Education is seeking court declarations that under a plan to restructure Roberts Co (VIC) it can set off claims of its own against any brought by the failed builder.

Liquidators of collapsed Snowdon Developments have reached a settlement with a building supplier as part of efforts to collect more than $2 million in payments allegedly made when the Melbourne developer was insolvent.

The directors of defunct Sharvain Facades have won a bid to narrow the scope of documents they must produce in a case by Commercial Freight and Logisticsw, which claims an equitable lien over real estate.

The liquidators of real estate investment company Global Capital Property Fund have expanded their suit alleging breaches of fiduciary duties in relation to a $50 million Queensland development, adding special purpose vehicles for several developments in Victoria.

An ex-Keystone director has raised concerns that expanding a freezing order over his assets would impact his ability to pay his solicitors at law firm Corrs Chambers Westgarth.

A court has ordered the de facto director of failed construction company Trinco to pay its liquidator $10 million, finding that the builder had been trading while insolvent since 2018.