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A judge has stayed a class action on behalf of 6,000 women allegedly injured by defective pelvic mesh devices after Astora Women's Health filed for bankruptcy in the United States, but questioned how the company had suddenly come to have no assets.
Creditors of LGL Commodities might have a right of action against solicitors for the company's liquidators for failing to comply with court orders and omitting evidence in a case against a former director, a judge has ruled.
Over-the-counter derivative issuers AGM Markets, OT Markets and Oxifin Tech have been ordered to pay a total of $75 million in penalties after a ruling that they engaged in unconscionable conduct causing losses of over $30 million to unsophisticated investors seeking what a judge called "financial heroin hits".
A judge has ordered 17 companies connected to Mayfair's "failed" IPO Wealth Fund to be wound up after finding the fund's director put investor money at risk through "highly speculative" investments to make a windfall for himself.
Companies associated with Mayfair's IPO Wealth Fund should be wound up because they contained assets "artificially inflated" in value and ran what was effectively a Ponzi scheme, the Victoria Supreme Court has heard.
Mayfair director James Mawhinney has been blocked from talking to investors ahead of a hearing on an application to wind up the IPO Wealth fund, after a judge raised concerns about investors being "misled and coerced" by the investment hotshot.
A court has granted a bid by two directors of Thai Airways to preserve the airline's Australian assets as the company, which was hit hard due to the COVID-19 pandemic, undergoes an urgent restructure in Thailand.
Grocon has won the right to appeal a $13.9 million interlocutory judgment in an ongoing lease dispute with property management firm Dexus, amid concerns that the construction company would be deemed insolvent if it was forced to pay the interim demand notice.
A judge overseeing a lease dispute in relation to a Brisbane CBD office tower has slashed a $43.2 million statutory demand against construction company Grocon by more than two thirds, finding property management firm Dexus was unreasonable to demand payment just two business days after issuing its invoices.
Two Grocon units have successfully struck out portions of an affidavit by the general counsel of property management firm Dexus Property Group, claiming prejudice in a dispute over $43.2 million in allegedly unpaid debts.