Collapsed Sydney developer Dyldam has denied wrongdoing in a lawsuit alleging members of the Fayad family used $74 million in sale proceeds for personal benefit and sought to conceal that fact from business partners.
The owners corporation of a 98-unit Parklea development by defunct builder Dyldam Developments has failed in its attempt to claim insurance for building defects in a property completed 17 years ago, with a court finding that time was up.
Collapsed Sydney developer Dyldam has told a court that a liquidator’s claim for breach of directors’ duties is “hopeless” as the company was under a deed of company arrangement at the relevant time.
The owners corporation of an apartment complex in Sydney’s north shore can bring claims against a council over several million dollars in alleged defects, despite a four-year delay.
A judge has rejected a misleading conduct claim against a builder who professed his “passion” for building high-end homes to a client, but put the builder on the hook for over $1 million in damages for rectification works.
A judge has rejected a shareholder’s bid to wind up investment firm Keybridge Capital, but allowed it to bring a derivative suit over a $4.75 million advance used for a director to purchase a Lake Como property.
Shareholders in lending platform Marketlend can bring a derivative suit against its directors for allegedly misusing company funds, including spending $1.3 million on barrister chambers fees.
The High Court has rejected a liquidator’s appeal arguing that two NSW printing press companies’ joint right to sue could be pooled to pay off debts for the entire corporate group.
The High Court has denied a bid for special leave by the Commonwealth Bank and other lenders to challenge a ruling that found two Arrium directors did not mislead them about loan drawdown notices ahead of the steel company’s $2.8 billion collapse.
The High Court has agreed to take up a case by a liquidator for two related NSW printing companies that could settle the question of whether pooling orders are available for businesses with common right to sue.