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Court shoots down Prime Trust liquidators’ bid for global proof of debt to compensate unitholders
The liquidators of retirement village group Australian Property Custodian Holdings, which went into administration in 2010 owing $948 million, have had their proposal to compensate unitholders under a global proof of debt rejected by a judge, who called the plan vague and "unsatisfactory".
Arnold Bloch Leibler wins access to Quindell due diligence docs
Arnold Bloch Leibler has been granted access to due diligence docs related to Slater and Gordon's $1.2 billion acquisition of professional services firm Quindell, to use in its defence of a class action over advice it gave on the troubled acquisition.
Lloyd’s says court has no power to let Pitcher Partners class actions eyeball insurance policies
Two units of global insurer Lloyd's have launched a constitutional challenge to a Federal Court order requiring accounting firm Pitcher Partners to hand over certain insurance documents in two shareholder class actions.