Banksia Securities investors who agreed to drop their case alleging breaches linked to a scandal-ridden class action have been hit with costs, with a judge saying the case was “plainly” not for the benefit of all group members.
Two Liberty Steel companies want a case brought in NSW by administrators for collapsed supply chain finance company Greensill to be put on hold while a related case in the UK is on foot.
The administrators of struggling regional airline Rex have entered into a sale agreement with NASDAQ-listed aviation holding company Air T, with the federal government stepping in to facilitate the sale.
KMPG partner John Lindholm has escaped a potential probe into his decision to endorse a settlement in the scandal-ridden Banksia Securities class action as the receiver for the collapsed lender.
Mayne Pharma has won a dispute with US drug maker Cosette over the termination of a $672 million merger agreement, with a judge finding Mayne did not breach its continuous disclosure obligations by failing to disclose a letter from the US FDA sooner.
A judge has questioned whether an investor in failed Banksia Securities can bring a case against a court-appointed receiver over his support for a class action settlement later found to involve deception by a team of lawyers.
The receiver for Banksia Securities — the failed lender at the centre of a scandal-ridden class action — has argued a new case accusing him of serious misconduct is vexatious and wants a court to release him from the claims.
An entity associated with the director of defunct Sydney builder Quasar Constructions has failed to hand over details about its assets to liquidators, prompting further orders with a warning from the court.
A judge has found a director of defunct IT company Novo breached his duty to prevent the company from trading while insolvent, but has stopped short of ordering damages, or making findings he breached other duties.
In the latest chapter of a feud between billionaires Fritz Kundrun and Hans Mende, the co-founders of global commodities firm AMCI, a court has found the sacking of the group’s Australian managing director was invalid.