A judge has allowed four ex-Linchpin directors facing possible fines by ASIC to put off filing evidence or amended defences in an investor class action after they claimed it would put them at risk of penalty in the corporate regulator’s proceedings.
An appeals court has set aside a notice issued to the tax office to produce documents to Kupang Resources as the mining company seeks to claw back millions of dollars allegedly siphoned off by former shadow director Phillip Grimaldi.
Two insurers have won an appeal that blocks group members in a class action against sandalwood producer Quintis from receiving a further $11.25 million after a settlement was reached almost two years ago.
ASIC did not issue threats to a Sydney security company that was being investigated for links to outlaw bike gangs and defrauding the Commonwealth, according to a judge who found the corporate regulator legally terminated its contracts with the company.
A judge has criticised the liquidators of collapsed financial group Linchpin Capital after they failed to inform the court whether they intend to defend class action proceedings or if default judgment should be made against the company.
A judge has given the liquidators of Linchpin Capital a final chance to defend a shareholder class action before judgment is made against the collapsed financial services group and one of its subsidiaries.
Two shareholder class actions against sandalwood producer Quintis that reached an in principle settlement over a year ago are moving forward following a protracted dispute over insurance, with the lead applicants getting approval to file proposed amended pleadings.
Two insurers have appealed a ruling that could provide a further $11.25 million to group members in a class action against sandalwood producer Quintis, further delaying finalisation of a settlement reached in the group proceeding over a year ago.
A lengthy dispute over insurance in a settled class action against sandalwood producer Quintis has been resolved, with the Federal Court rejecting a challenge by two insurers to the rectification of policies that could provide a further $11.25 million in recoveries to group members.
A lawsuit seeking to increase D&O insurance for sandalwood producer Quintis in the wake of a class action settlement has fallen short of the $40 million in additional coverage sought, but a Federal Court decision may see a further $11.25 million go to group members.