Special purpose liquidators have been appointed to failed clothing retailer Mosaic Brands, after a judge found a reasonable apprehension of bias arising from liquidator Vaughan Strawbridge’s former link to Deloitte.
A judge has handed Shinetec a win in its dispute with the developer of a scuttled $185 million project in Sydney, finding that $48 million owed by the builder to its parent company after the developer called on a letter of credit fell within the definition of ‘secured money’.
Apartment owners in Sydney’s Alcove St Ives development have won extra time for evidence ahead of an expert huddle in a $123 million defects suit against a unit of builder Meriton.
A judge has vacated an upcoming trial in a $27 million lawsuit against a unit of Coronation Property over alleged defects in a Liverpool high-rise.
Builder Shinetec has argued $48 million paid to the developer of a $185 million project in Sydney by Bank of China under a standby letter of credit was money it lent to the collapsed developer, with a judge seeming to agree the sum would otherwise be a windfall.
A judge has clarified a warning he made to refer lawyers for Alvarez & Marsal to the legal watchdog after hearing of the hefty costs of complying with discovery orders won by rival EY, saying the threat wasn’t directed at counsel.
A judge has flagged the possibility of referring lawyers acting for Alvarez & Marsal to the legal watchdog after hearing the consultant’s costs of complying with preliminary discovery orders won by Ernst & Young could top $500,000.
The owners corporation of a 98-unit Parklea development by defunct builder Dyldam Developments have appealed a ruling that found time was up on its insurance claim for building defects in a property completed 17 years ago.
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.
EY may seek damages against rival consulting firm Alvarez & Marsal after it won preliminary discovery to pursue possible claims over a mass departure of partners and staff from its international tax practice.