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Insurer IAG has argued Greensill investor White Oak failed to verify the existence of $140 million in receivables for fear the deal wouldn't go ahead -- conduct, it says, that was “redolent of a deal that is too good to be true”.
Insurance underwriter Tokio Marine has denied misleading US investment firm White Oak by staying silent on alleged issues with an IAG policy keeping Greensill's supply chain financing business operating.
Construction PRO
Hilton has filed an appeal after losing a challenge to a $173 million tax adjustment from the 2015 sale of the Sydney Hilton Hotel.
Insurance Australia Group has reportedly settled a multibillion dollar case by Credit Suisse over the collapse of supply chain financier Greensill Capital on the eve of a five-month trial.
Construction PRO
Hilton has lost its challenge to a $173 million tax adjustment from the 2015 sale of the Sydney Hilton Hotel, with a judge finding the transaction was entered into for the dominant purpose of obtaining a tax benefit.
Construction PRO
The owner of Sydney's InterContinental Hotel has lost its challenge to the approval for a mixed-use tower at the site of the neighbouring Sir Stamford Hotel.
Construction PRO
A court has extended urgent freezing orders against the developers of the $133 million Babylon Apartments in the north-west Sydney suburb of Rouse Hill, in a dispute over a builder's payment debt.
Construction PRO
Baggage handling company Alstef Australia has had a partial win in its quest to stop the Brisbane Airport Corporation from calling on $13.4 million in bank guarantees.
Credit Suisse has dropped its claim for indemnity against insurance agent BCC under a trade credit policy issued prior to Greensill Capital’s collapse in 2021, with a judge hearing the admission marks a "complete u-turn in the case".
Construction PRO
Baggage handling company Alstef Australia says the operator of Brisbane Airport is not entitled to call on $13.4 million in bank guarantees, claiming it is owed $32 million in a dispute over a baggage system upgrade at the airport’s domestic terminal.