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Lawyers, funder to seek 75% of AMP’s $29M class action settlement
The lawyers and funder behind a settled class action against AMP will ask a court to OK fees and commission totalling almost $22 million, a bill that leaves just $7 million for group members but represents a $43 million loss on actual costs.
ASIC remains ‘concerned’ about private credit market
As residential developer Bathla struggles to secure more funds to stay afloat, the Australian Securities and Investments Commissionr told a senate committee hearing it had been concerned about the private credit market for the past 24 months.
Law professor fights dismissal recommendation over alleged student kiss
A Sydney-based law professor is challenging a university investigator's dismissal recommendation following allegations he kissed a student during a study tour in Paris.
Construction PRO
Bathla administrators secure funds, but over 200 workers stood down
A group of Bathla lenders has agreed to provide a short-term lifeline for the embattled residential developer to progress some projects, while other projects will be suspended and 213 employees stood down as of Monday.
ACCC gives final nod to Google, Epic Games settlement
The competition regulator has given final approval to a settlement between Fortnite maker Epic Games and Google that resolves allegations the digital giant misused its market power.
Construction PRO
Qube wins $26M fight with Martinus Rail over Moorebank terminal
Logistics company Qube has prevailed in a fight to enforce $26 million in partial arbitration awards against Martinus Rail over Sydney's $4 billion Moorebank Intermodal Terminal.
Construction PRO
Bathla Group reveals debts of $3.4B as lenders drag heels on funding
Sydney residential developer Bathla has accrued debts of $3.4 billion, administrators revealed Friday during a first creditors meeting as discussions with lenders on funding to keep 45 construction projects on track drag on.
Construction PRO
Bathla employees paid partial wages as lenders, administrators keep talking
Bathla's administrators have yet to reach a deal with the embattled developer's lenders on short-term funding, but money has been found to make partial payments to employees.
Construction PRO
Firmus, Subco reach $425M Trans-Pacific AI connectivity deal
Firmus has entered a $425 million agreement to be a cornerstone customer of Subco's planned submarine cable system, giving the AI infrastructure company dedicated connectivity between Australia and the US.
Construction PRO
Bathla administrators progress talks with lenders on short-term loan
Administrators of Bathla Group are continuing talks with the embattled developer's lenders over a short-term loan that will keep the business afloat, and are hopeful a funding package can be secured by Thursday.