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A former director of Melbourne-based developer Steller Developments has denied liquidators’ claims that he agreed to give a $120 million personal guarantee before the company went under, saying there was “not one single contemporaneous document” referring to the alleged guarantee.
A judge has reluctantly hit Westpac with a $1.8 million penalty after the bank admitted to unconscionable conduct when trading on the morning of a $16 billion deal to privatise electricity provider Ausgrid, saying it was the maximum fine allowed under the relevant law.
A judge has granted a bid for a new mediator in a class action over allegedly combustible cladding, agreeing with the applicant that a "fresh start" may be beneficial.
A judge has found insurers must cover claims against builder LU Simon Builders over alleged combustible cladding in Melbourne's Atlantis Towers after a judge found the owners were “obvious candidates” to bring legal action.
Real estate investment trust NorthWest can amend its pleadings in a lawsuit alleging one of the country’s largest unlisted healthcare property funds conspired to prevent it from acquiring a controlling stake, but has come up short in its bid to add to its claims against property giant Dexus.
Insurance Australia Group is investigating the underwriter behind an allegedly unauthorised trade credit policy issued to Greensill Capital, according to a defence by the insurer in a $43 million case brought by a Credit Suisse supply chain fund left heavily exposed after Greensill's collapse.
A judge has allowed the liquidators of Melbourne-based Steller Development to bring proceedings against its directors, the latest claims to be leveled in the wake of the developer's 2019 collapse, which left an estimated $300 million owing to creditors.
An appeals court challenge by a group of small businesses seeking coverage under business interruption insurance policies for losses flowing from COVID-19 restrictions has largely failed.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion's share, with $672 million in settlements under its belt.
A judge has criticised the Australian Securities and Investments Commission for treating timetabling orders in its insider trading case against Westpac over a $16 billion interest rate swap as though they were “traffic lights in Naples”.