Special purpose liquidators have been appointed to failed clothing retailer Mosaic Brands, after a judge found a reasonable apprehension of bias arising from liquidator Vaughan Strawbridge’s former link to Deloitte.
The Takeovers Panel has found Cosette cannot close a Mayne Pharma drug manufacturing plant in Adelaide, another win for Mayne in its push to block the US drug maker from walking away from their $672 million merger.
The Foreign Investment Review Board has extended the deadline for ruling on Cosette’s proposed $672 million takeover of Mayne Pharma.
The Takeovers Panel has agreed to hear Mayne Pharma’s latest dispute with Cosette over the US drug maker’s attempts to walk away from their $672 million merger agreement and extended the timeline for completing the deal.
Mayne Pharma has secured an extension of the deadline for securing Foreign Investment Review Board approval of its $672 million tie-up with US drug maker Cosette.
Cosette plans to appeal a ruling that rejected its bid to terminate an agreement to merge with Mayne Pharma, as the US drug company also refuses to agree to conditions needed to win Foreign Investment Review Board approval for the tie-up.
Mayne Pharma has won a dispute with US drug maker Cosette over the termination of a $672 million merger agreement, with a judge finding Mayne did not breach its continuous disclosure obligations by failing to disclose a letter from the US FDA sooner.
A judge has dismissed a class action applicant’s claim that he was underpaid as a University of Sydney postgraduate student, but left for another day the question of whether the court should also make orders binding group members.
Resolving a split between courts, the High Court has confirmed that judges have power to make soft class closure orders, which require class action members to register before mediation to participate in any resulting settlement.
A $43 million settlement in a class action alleging Noumi misled investors about its inventory is fair and reasonable in light of confidential information about the food company’s financial position, a court has heard.