A class action by investors in a Melbourne apartment develpment has resolved for $2.6 million, but the law firm bringing the case will take a haircut on its fees after group members ignored calls to contribute to the costs.
ASIC has won winding up orders against investment firm Falcon Capital and its managed investment scheme First Guardian Master Fund, after raising concerns about potential risks to investors.
The state of Victoria can’t set aside a liquidator’s disclaimer over hazardous waste in a property rented by collapsed marine safety flooring company Fordex, with a judge finding the landlord’s rights over the property and waste were not terminated by the disclaimer.
A judge has dismissed the corporate regulator’s case alleging former Dixon Advisory director Paul Ryan breached his director’s duties.
Self-described property ‘mogul’ Sasha Hopkins has agreed to pay a $1.25 million fine and face a four-year disqualification in proceedings by the corporate regulator.
Trial in ASIC’s action accusing former Dixon Advisory director Paul Ryan of breaching his duties began Monday, a case that puts the spotlight on legal advice over a deed that affected the wealth management firm’s capacity to recoup a $19 million debt on the eve of its collapse.
Former Dixon Advisory director Paul Ryan will ask the court for a suppression order protecting advice by a Big Six firm, as he defends ASIC’s claim that he failed to consider creditors when executing a deed that affected the company’s ability to recoup a $19 million debt.
Defence shipbuilder Austal and its CEO have agreed to pay a combined $700,000 in penalties for violating the Corporations Act by failing to notify the market of a US$90 million writeback related to the company’s $3.5 billion US Navy warship program.
In a victory for Victorian independent candidate Zoe Daniel, the state’s Supreme Court has found that promotional signs displayed on lawns did not fall foul of a local council ban on unauthorised displays.