A judge has removed a liquidator from the winding up of a Victorian cabinetry business, finding he failed to act honestly by settling unfair preference claims with tax agencies without disclosing key information.
The purchaser of Frankston’s $115 million Peninsula Kingswood Country Golf Club has lost a summary dismissal bid, with the court calling out its “contrariness” as stymieing the case’s progress without real cause.
Private equity firm EMR Capital has been ordered to pay $12.5 million under a controversial share sales agreement for a Queensland copper mine.
The Victorian Court of Appeal has rejected a company’s bid to overturn a decision ordering it to pay nearly $10 million in damages for loss of opportunity in relation to a retirement village development.
Insolvency practitioners are holding their breath as the High Court hears a case that could abolish a key rule used by liquidators in recouping payments to unsecured creditors at a time when the industry is bracing for a possible recession.
Max Twigg, race car driver and former owner of the famous Byron Bay Hotel, has lost an appeal of a judge’s finding that he misappropriated around $100 million in family trust money and took steps to conceal the transfer of funds from his mother.
The ATO has won a legal challenge over when it can claim tax from trust income, with the High Court finding beneficiaries cannot “retrospectively expunge” their entitlements to the proceeds of a trust despite the potential “unfairness” this creates.
The High Court will clarify the so-called peak indebtedness rule used by liquidators recouping payments to unsecured creditors, granting a special leave application brought by the liquidators of collapsed forestry giant Gunns Group.
In a victory for Victorian independent candidate Zoe Daniel, the state’s Supreme Court has found that promotional signs displayed on lawns did not fall foul of a local council ban on unauthorised displays.
An unsecured creditor of collapsed forestry giant Gunns Group has partially succeeded on appeal of a judgment that ordered repayment of $2 million that Gunns had transferred in 2021 despite trading while insolvent.