Nicholas Bolton has lost his challenge to Keybridge Capital’s move to remove him from the board of confectionary group Yowie, after he was found to have been validly removed as the CEO of Keybridge in March.
An appeals court has held that directors cannot be found guilty of unlawfully making a deal to prevent employees from receiving their entitlements if they believe they could be paid out under the Fair Entitlements Guarantee scheme.
A judge has approved a bid by administrators of Rex to delay the next creditors’ meeting to continue talks with several potential buyers of the regional airline.
An appeals court has rejected Keybridge CEO Nick Bolton’s challenge to a ruling that found that he and two other directors were validly removed at a board meeting, finding in favour of shareholder WAM Active.
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.
Shareholders in lending platform Marketlend can bring a derivative suit against its directors for allegedly misusing company funds, including spending $1.3 million on barrister chambers fees.
Collapsed regional carrier Rex Airlines has won extra time before holding its second creditors meeting, as administrators continue their search for a buyer which would ensure a better deal for the airline’s tens of thousands of creditors.
An arrangement to restructure Queensland labour hire services company Comlek has survived a challenge by the state’s revenue office, which wanted the business wound up, claiming the restructure was against public interest and commercial morality.
Probuild Constructions has failed in its special leave application to the High Court, which sought to challenge a ruling that it held $7.7 million in trust for insurer Allianz under a deed of indemnity in connection with the development of West Side Place in Spencer St, Melbourne.
The liquidators of construction giant Ralan have been given the go-ahead to pursue a former sales manager and his wife as well as the ATO with claims worth over $18 million, with a judge finding the collapsed company operated “a type of Ponzi scheme”.