Farid Assaf

A judge has hit Dyldam Developments' former boss Sam Fayad and his two sons with costs after ordering them to pay $50 million in a case by the liquidator of a special purpose vehicle, but awarded costs to payment intermediaries for the liquidator's "manifestly weak" case against them. 

Dyldam Developments' former boss Sam Fayad and his two sons have been ordered to pay over $50 million in a case by the liquidator of a special purpose vehicle claiming company funds were misused.

A liquidator has opened his case over the alleged misuse of funds by now defunct Dyldam Developments, as the court hears of “oddities” in financial records and the spaghetti-like structure of 157 interrelated entities.

Collapsed Sydney developer Dyldam has denied wrongdoing in a lawsuit alleging members of the Fayad family used $74 million in sale proceeds for personal benefit and sought to conceal that fact from business partners.

A stay of a $37 million 2023 judgment in favour of the company behind an abandoned $185 million development in Gosford NSW against the Australian arm of China's Shanxi Construction Investment Group has been extended.

Collapsed Sydney developer Dyldam has told a court that a liquidator's claim for breach of directors' duties is "hopeless" as the company was under a deed of company arrangement at the relevant time.

The High Court has declined a request by Shinetec for it to weigh in a dispute over an abandoned $185 million development in Gosford, NSW.

A judge has rejected a shareholder's bid to wind up investment firm Keybridge Capital, but allowed it to bring a derivative suit  over a $4.75 million advance used for a director to purchase a Lake Como property.

The company behind an abandoned $185 million development in Gosford, NSW can't lift a stay on a $37 million judgment it won against the Australian unit of China's Shanxi Construction Group.

A Canberra massage parlour that systematically underpaid, intimidated and exploited migrant workers, including by threatening to kill their family members if they complained, has been hit with a $1 million penalty.