Riley McDermott

A court has ruled that the body corporate of a block of units can bring a contract claim against builder Devine in its own name, finding that parliament did not intend to import the technical legal meaning of ‘subrogation’ into legislation governing owners corporations.

A court has appointed receivers to two entities of collapsed asset manager Australian Fiduciaries amid concerns by the corporate regulator that $167 million in funds have been misused, including to buy $600,000 in luxury cars.