Administrators of construction company Roberts Co Victoria, which owes $272 million to 470 creditors, are justified in treating funds as if held on trust for subcontractors on six projects in Melbourne, a judge has found.
The head company in the Roberts Co construction group has gone into administration after its NSW arm was sold off to UAE-based developer Arada earlier this month.
Three Clive Palmer-owned companies have filed a breach of trust lawsuit against HWL Ebsworth, funder Vannin Capital and the liquidators of Queensland Nickel attempting to recoup $102 million transferred after the billionaire suffered a courtroom defeat earlier this year.
A judge has approved a “disappointing” $25 million settlement in long-running class action litigation over the collapse of electronics retailer Dick Smith with claims worth hundreds of millions of dollars.