Adele Carr

A bid by the liquidators of collapsed engineering company Hastie Group for Lendlease to pay back funds it withdrew under bank guarantees is “untenable” and “misconceived”, a court has heard in a $68 million case that also targets Multiplex, Grocon and John Holland.

A shareholder’s attempt to reverse a $3.15 million share acquisition by the managing director of construction giant Consolidated Builders Ltd has been dismissed by a judge, despite finding the case had “a reasonable probability of success”.