Lendlease has abandoned its bid to purchase a parcel of land owned by one of Australia’s oldest families for well below market value as part of its project to develop 6,700 homes in Campbelltown, Sydney.
Former directors of Steller Developments have told a court they did not intend to guarantee the company’s debt in the event of bankruptcy, as trial kicked off in proceedings by the collapsed Melbourne developer’s liquidators.
Lendlease’s hopes of acquiring, subdividing and selling lots in a Campbelltown block have been deferred, with a judge finding he could not make urgent orders with a question mark hanging over the construction of a relevant deed.
An appeals court has overturned a finding that food company Noumi waived privilege over a PwC report commissioned by Ashurst, which it produced to ASIC under voluntary disclosure.
An investor class action against failed advisory firm Linchpin Capital and its former directors has won its bid to claim its losses against a $10 million insurance policy from AIG.
The Australian operator of crypto exchange Kraken has been ordered to pay $8 million for failing to comply with design and distribution obligations.
Logistics giant Qube has partially prevailed in setting aside amounts Martinus Rail claimed it was owed under a contract for work at an intermodal freight terminal in Moorebank, NSW.
In the second test of the new design and distribution obligations under the Corporations Act, ASIC is seeking a $20 million penalty against the provider of the Kraken crypto exchange.
ASIC wants the Full Court to overturn a finding that Noumi waived privilege over a PwC report produced under a voluntary disclosure regime, arguing the regime benefits the public in making investigations more efficient.
Logistics giant Qube has won a $40 million cut to amounts owed to Martinus Rail in a dispute over construction of the Moorebank terminal project in Sydney’s west.