Justice Ashley Black

Ray White has secured a stay of examinations of its employees, as a creditor of FSM Development investigates claims the real estate agency's loan agreement with the collapsed Sydney developer was uncommercial.

Mayne Pharma and US drug maker Cosette have agreed to postpone the start of trial in a case over the termination of a $672 million merger to allow for late amendments.

The receiver for failed Banksia Securities wants a release from claims stemming from his role, including a case by investors who lost their life savings only to be duped by the class action team that represented them.

Nicholas Bolton has lost his challenge to Keybridge Capital’s move to remove him from the board of confectionary group Yowie, after he was found to have been validly removed as the CEO of Keybridge in March. 

Arnold Bloch Leibler and a litigation partner at the law firm are among defendants named in a new case for their representation of the mastermind behind the scandal-ridden Banksia Securities class action.

A judge has given the greenlight to a $10 million settlement with entities linked to late solicitor and Banksia class action mastermind Mark Elliott, noting the “perverse” difficulty of recovering more of the $70 million in assets held on trust.

Entities linked to the late solicitor Mark Elliott are set to pay $10 million to settle claims by Banksia class action members, despite a related company owning $70 million on trust, a court has heard. 

The receiver appointed a decade ago to claw back money for investors in failed Banksia Securities might seek the protection of a court order releasing him from proposed new proceedings, which would also target lawyers alleged to have breached their overarching obligations.

Lender WholeCap has lost its bid for a “break fee” and $430,000 in legal costs billed by King & Wood Mallesons associated with a term sheet for a proposed $66.1 million loan to a Harbour Land entity.

A bid by Banksia Securities' special purpose receiver to thwart planned proceedings by a group of debenture holders against lawyers for the class action funder has failed.