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Two former executives of defunct electronics retailer Dick Smith have asked the High Court to hear their challenge to a $11.8 million damages award for approving a dividend payment the company could not afford.
The sacked CEO of Orix Australia has abandoned his challenge to a ruling allowing a set-off defence for the fleet management company in his case for unpaid leave entitlements and penalties.
An appeals court has found that two former executives of collapsed electronics retailer Dick Smith should pay the company’s receivers $11.8 million in damages for approving a dividend payment the company could not afford.
The sacked boss of fleet management Orix Australia, who is seeking $1 million in unpaid leave, wants to challenge a decision allowing the company's defence that anything it owes is set off by the losses the former CEO allegedly caused.
The former CEO of fleet manager Orix Australia, who escaped charges of corruption three years ago, will have to take his claims for $1 million in unpaid leave to a hearing after losing a pre-trial bid for judgment.
The former CEO of failed electronics retailer Dick Smith should be held responsible for approving two dividend payments worth $28.5 million which the company could not afford to pay given it owed millions in unpaid bank loans and supplier debts, an appeals court has heard.
Fleet management company Orix Australia has struck out in its bid to access certain files in an abandoned criminal case against two former senior executives as it seeks to claw back what it claims are losses suffered as a result of their breaches of duty.
The Commonwealth Bank of Australia will have to hand over a preliminary tranche of documents relating to seven large-scale oil and gas projects it is financing in a lawsuit that will test whether the bank has complied with its stated commitments on climate change.
A judge has awarded $43 million to National Australia Bank in its lawsuit against former directors of failed retailer Dick Smith, but threw out claims against company directors brought by HSBC and the retailer's receivers.
Luxury boutique retailer Watches of Switzerland has reached a settlement in principle with Transport for NSW to resolve its case alleging damages resulting from Sydney's light rail project, a court has heard.