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Construction PRO
Former directors of Steller Developments have told a court they did not intend to guarantee the company's debt in the event of bankruptcy, as trial kicked off in proceedings by the collapsed Melbourne developer's liquidators.
ASIC has won approval to bring claims against troubled regional airline Rex and four of its directors for allegedly misleading investors about the company's financial position.
The trustee for Active Super has argued against a $13.5 million penalty proposed by ASIC for greenwashing, saying the tax burden would impact on its members.
Two law firms that were set to run competing class actions against Coles and Woolworths over alleged illusory discounts have reached an in-principle agreement to collaborate.
A class action against water treatment company Phoslock and auditor KPMG should not be held up until a shareholder that's stuck in preliminary discovery proceedings files a competing case, a court has heard.
Four proceedings over COVID-19 business interruption losses will be stripped of class action status, with a judge saying most of the common issues were already determined in test cases.
A class action trial has heard that allegedly flammable Alucobond panels provided by 3A Composites and supplier Halifax Vogel are comparable to petrol and could present an “insurmountable challenge” to containing a fire.
Building materials manufacturer 3A Composites has lost a challenge to questions for a judge at an initial trial of a class action over combustible cladding, with a judge finding the issue of whether the company's Alucobond panels were of acceptable quality was common to all group members.
Four insurers have argued that class actions over alleged business interruption losses during the height of the COVID-19 pandemic should be de-classed, with one insurer saying group members cannot “go behind” a Full Court decision denying coverage for certain policyholders.
The corporate regulator is on a winning streak in its greenwashing cases, with a judge rejecting Active Super's attempt to qualify its “unequivocal” statements about limiting its investment in companies connected to gambling and coal mining.