A Canberra massage parlour that systematically underpaid, intimidated and exploited migrant workers, including by threatening to kill their family members if they complained, has been hit with a $1 million penalty.
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.
Commonwealth Bank and other lenders of Arrium have filed for special leave to appeal to the High Court after losing their latest bid to make two directors liable for allegedly misleading them about loan drawdown notices ahead of the steel company’s $2.8 billion collapse.
Commonwealth Bank and other lenders of failed steel giant Arrium have lost a second attempt to put two of the company’s directors on the hook for alleged misleading representations on loan drawdown notices ahead of its $2.8 billion collapse.
Liquidators of Sargon Capital are pursuing a claim for $4 million against super trustee firm Diversa and are investigating potential insolvent trading claims against the collapsed fintech’s directors.
A judge has tossed a broker’s lawsuit against NAB and its former subsidiary FAST, finding the bank was entitled to terminate its accreditation over the use of a banned broker’s trail book.
Several lenders have appealed a ruling that found they failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse, saying it was a “no brainer” that the company was in dire straits when its directors sought extra funds.
A group of banks that failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse have been ordered to pay indemnity costs after a court found they rejected $10 million settlement offers three days into the trial.
Herbert Smith Freehills this week escaped a cross-claim that its advice made it liable for the alleged losses of Arrium’s lenders, but the judge who tossed the claim along with the banks’ cases expressed doubts about one of the law firm’s key arguments, a warning to other firms caught up in litigation as so-called concurrent wrongdoers.