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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.
The NSW Government is mulling cross-claims against construction firms ALTRAC and Acciona in a class action alleging the government failed to minimise disruptions from the Sydney light rail project.