Greensill Capital likely became insolvent on March 2, seven days before the Queensland-based financial services firm appointed administrators, the company’s liquidators have revealed.
Westpac has been ordered to pay $3 million after two subsidiaries admitted misleading hundreds of superannuation customers about the financial adviser fees they were charged, a penalty that took into account the Big Four bank’s massive profits.
Administrators have lined up a buyer for a Forum Group entity, as a first creditors meeting confirms Westpac has the largest claim to any recoveries after an alleged $400 million fraud by the equipment leasing company.
The ACCC’s claim that NSW Ports stymied competition when it signed a 50-year agreement with the state to be compensated if the Port of Newcastle built a container terminal was based on “mere speculative hopes”, a judge found in tossing the competition watchdog’s regulatory action.
A proposal by Bristol-Myers Squibb-owned Celgene to split a second trial into two more hearings in a dispute over patents covering the pharmaceutical maker’s top selling cancer drug Revlimid would result in wasted costs, wasted time and require a second judge, a court has been told.
With $254 million at stake, Westpac wants a court order blocking the business partner of Forum Group founder Bill Papas from leaving Australia, as Papas remains in Greece while fraud allegations swirl.
Crown Melbourne is not presently suitable to hold a casino licence in Victoria, counsel assisting the royal commission into the casino operator said Tuesday.
Thorn Group is the latest lender ensnared in an alleged $400 million fraud by Forum Finance, with potential funds of up to $2.2 million tied up in the collapsed equipment leasing firm.
Consolidation of two consumer class actions against Allianz would do away with competition in a contest to lead a single case that would force a drop in the contingency fee rates of the rival law firms, the insurance giant has told a court.
GetSwift has reached an agreement to settle a shareholder class action accusing the logistics company of misleading statements over contracts, avoiding a trial that was set to begin in two months.