Forum Group’s liquidators are seeking to wind up an entity owned by founder Bill Papas that received over $2.6 in “loans” from the alleged fraudster, as they work to recoup almost $400 million allegedly defrauded from three banks.
Singapore telecommunications giant SingTel cannot claim over $894 million in tax deductible “transfer pricing benefits” for interest paid by a cross-border subsidiary on a loan for the $14.2 billion acquisition of Optus, the Federal Court has ruled.
The founder of construction giant Ralan Group will face public examination in the Federal Court as liquidators continue their investigations into the company’s $561 million collapse.
Refugee activist Shane Bazzi has appealed a defamation judgment ordering him to pay $35,000 in damages to Peter Dutton over a tweet which accused the defence minister of being a rape apologist.
General Motors has lost its bid to de-class a representative proceeding brought by former Holden dealers over its decision to retire the iconic brand, with a judge rejecting the car maker’s “speculative” argument that it would be prejudiced by further lawsuits after the class action was finalised.
The liquidator of collapsed vocational education provider Careers Australia has filed a lawsuit against the company’s former directors, including founding CEO of Optus Robert Mansfield, seeking damages for alleged insolvent trading and breach of directors’ duties over a $40 million dividend the company allegedly could not afford.
A judge has rejected the TWU’s request for the reinstatement of around 1,800 outsourced Qantas workers, finding it was inevitable that the airline would retrench the workers again as soon as lawfully possible.
IVF company Virtus Health has withdrawn its offer to acquire rival Adora Fertility from Healius, citing the competition regulator’s opposition to the takeover.
The former CEO and chairman of Antares Energy has been banned from managing corporations for four years and hit with a $40,000 penalty for failing to disclose to the market the buyer behind an ill-fated US$254 million acquisition of Texas oil assets.
Australia’s leading regional airline faces further litigation after an appeals court found it sent a threatening letter to prospective cadet pilots, urging them to stay in cheap, “inappropriate accommodation” in order to demonstrate their commitment to the company.