Nicole Papaleo

A judge has accepted that Cbus’ agreement to buy a 50 per cent stake in Sydney’s troubled Halo Tower could fall through if the beleaguered developer behind the project is forced to remain in administration, shooting down a challenge to a DOCA.

A court has dismissed a bid to temporarily block a deed of company arrangement for Halo Tower developer FT Sydney, after hearing an injunction might jeopardise a sale to Cbus Property, set to settle in July.

A judge has questioned why unsecured creditors will not give a promise to pay damages as they seek to stop a DOCA for the Milligan-owned developer of the $1.8 billion Halo Tower from going ahead, which could allegedly cause $100 million in losses. 

Preventing a DOCA for the Milligan-owned developer of the troubled $1.8 billion Halo Tower skyscraper in Sydney could cause $100 million in losses and jeopardise a sale to Cbus set to settle in July, a court has heard.

Twenty-one former property owners at the site of the troubled 55-storey Halo Project skyscraper in the Sydney CBD have won access to a contract entered with Cbus Property shortly before developer FT Sydney went into administration. 

Collapsed Melbourne developer Steller has failed to convince a court that its founders and two former directors owe $101.9 million, with a judge rejecting claims that they personally guaranteed the company’s debt.

Former directors of Steller Developments have told a court they did not intend to guarantee the company's debt in the event of bankruptcy, as trial kicked off in proceedings by the collapsed Melbourne developer's liquidators. 

A judge has signed off on a $16 million settlement in a class action against Dixon Advisory, but the funder of a competing case that was stayed after losing a beauty parade has earned a fragment of the $1 million it sought from the resolution sum.

A former director of Melbourne-based developer Steller Developments has denied liquidators’ claims that he agreed to give a $120 million personal guarantee before the company went under, saying there was “not one single contemporaneous document” referring to the alleged guarantee. 

Mayfair 101 has settled with liquidators of collapsed IPO Wealth Holdings after they won a bid to re-examine former director James Mawhinney over the transfer of “considerable funds and assets” from the fund to other entities.