Real estate investment trust NorthWest can amend its pleadings in a lawsuit alleging one of the country’s largest unlisted healthcare property funds conspired to prevent it from acquiring a controlling stake, but has come up short in its bid to add to its claims against property giant Dexus.
A judge has declined Expert Group’s bid to bring court proceedings about the amount of an earn-out owed under its agreement to sell cloud services provider Experteq IT Services, finding the firm had agreed to resolve the matter by expert determination.
Japanese bank SMBC has foreshadowed an application to add claims against Humm Group after the fintech’s subsidiary allegedly misled the bank about receivables under contracts forged by a Forum Group entity.
Fintech Humm has admitted to making “misrepresentations” to Japanese bank SMBC over allegedly worthless receivables linked to Forum Finance but has denied it was negligent, claiming a Forum Group unit should share the burden of paying any damages in the $33.6 million lawsuit.
A judge has fined superannuation fund promoter MobiSuper and licensee ZIB Financial $250,000 for misleading marketing calls.
Japanese bank SMBC has brought a $33.6M lawsuit against fintech Humm Group after its subsidiary Flexirent allegedly misled the bank about receivables under allegedly forged contracts between a Forum Group entity and Veolia Environmental Services.
The High Court has refused Sydney retail personality Con Constantine’s bid to challenge a $4.25 million judgment in his favour over the $81.8 million Parklea Markets sale in 2016.
Liquidators for ready-made meals producer Jewel of India have lost their bid to dodge public examination over their alleged poor handling of the business’ sale and failure to investigate potential claims against the Commonwealth Bank.
In a boost to securities class actions, the High Court has ruled that directors of collapsed companies can be subjected to public examination by shareholders wanting to bring civil proceedings.
Two shareholders of failed steel giant Arrium have told the High Court that granting their bid to grill former directors of the company would not be an abuse of process because it was in the public interest to “expose” the management of the defunct business.