Bill Papas’ business partner Vince Tesoriero has won the release of $1.25 million to pay for his legal fees in Westpac’s fraud case against him, despite a judge’s finding that disclosure concerning his true financial position was “less than ideal” and included “staggering” discrepancies.
Forum Finance director Vince Tesoriero has been caught out for failing to declare over $150,000 to the court, as he took the stand to defend evidence given about his financial position in Westpac’s fraud case against him.
A judge has indicated that he may allow concrete supplier Readymix to be drawn into a five-year-old dispute over alleged defects in the construction of Sydney’s billion-dollar Lane Cove tunnel.
A judge has signed off on a $4.7 million settlement in two investor class actions against collapsed sandalwood producer Quintis, two year after an earlier settlement was scuttled as group members kicked off an insurance dispute in pursuit of a better return.
A judge has told Forum Finance director Vince Tesoriero to “revisit” evidence about his true financial position if he wants to win the release of $1.25 million to pay for his defence in Westpac’s fraud case against him, amid concerns about whether he has made full disclosure to the court.
A court has handed CBRE indemnity costs for successfully defending a negligent land valuation lawsuit by defunct fund manager City Pacific after it had offered $600,000 to settle the case.
Bill Papas’ girlfriend Louise Agostino has hit back at Westpac’s lawsuit accusing her of involvement in the Forum Group director’s alleged $294 million fraud, denying all allegations and arguing that the bulk of the bank’s claims against her should be struck out.
Shareholders bringing a class action against Quintis have lost their bid for Ernst & Young to hand over documents from two meetings with a director of the sandalwood supplier, after a judge found they did not get “within a bull’s roar” of showing the accounting firm’s discovery was inadequate.
Car dealers that have brought a class action against General Motors over its decision to retire the Holden brand in Australia rejected offers of compensation totaling close to $5 million, according to court documents.
General Motors Holden Australia has denied that it owes compensation to Holden dealers over its decision to retire the iconic brand in Australia, and says its dependence on other GM units to supply the cars constituted “an event beyond its reasonable control”.