Lawyers for former Vocation CEO Mark Hutchinson say the corporate regulator is “plucking numbers out of the air” in its bid to secure disqualifications of up to eight years against the former executives who breached their directors’ duties in relation to the collapsed education provider.
In a win for the corporate watchdog, a court has found collapsed education provider Vocation engaged in misleading and deceptive conduct and breached its continuous disclosure obligations by failing to inform shareholders of problems with a large government contract.
A shareholder class action led by Bannister Law against sandalwood oil producer Quintis will be absorbed by rival law firm Gadens in a consolidation agreement that ends a battle over the competing cases.
Vocational education provider Captain Cook College has panned the ACCC for delaying its recently filed case against the college by failing to prepare a statement of claim, despite already publicising the proceedings.
Concerns that the proposed acquisition of Sirtex Medical by a Chinese private equity firm would leave the company with insufficient funds to cover a settlement or judgement in a class action were eased Wednesday, after a barrister said the takeover would leave the company with just under $1 billion in assets.