Sydney financier First Class Capital has admitted it acquired three million shares in former market darling Big Un but has denied liquidators’ claims that the purchase was part of a fraudulent design to inflate the share price ahead of the video start-up’s collapse.
A judge has dismissed a franchisee class action against the Hog’s Breath Cafe restaurant chain after the lead applicants failed to hand over $1.23 million in security for costs.
Sydney real estate group The Agency has lost an appeal in its trade mark case against a rival, with the Full Federal Court upholding a finding that the company would have an “unwarranted monopoly” if other businesses were barred from using the descriptive words in its name.
Over three years into a class action against failed asset finance lender Axsesstoday and auditor PricewaterhouseCoopers over a $50 million prospectus, the applicant has won the green light to add four insurers to the case.
More than three years after filing a class action against failed asset finance lender Axsesstoday and auditor PricewaterhouseCoopers over a $50 million prospectus, the applicant has asked a court to file a new statement of claim that will join insurer Dual Australia to the case.
ASIC has escaped an individual insolvency practitioner’s bid for indemnity costs in its failed case alleging illegal phoenix activity, with a judge finding the regulator did not unreasonably reject a settlement offer that would have netted it “a considerably better result” than it won at trial.
The receivers of Sydney fraudster Melissa Caddick’s estate have reached an agreement with her husband on a small pool of remaining assets in dispute that will see half of her teenaged son’s sneaker collection sold to repay defrauded investors.
Twenty-four former clients of Melissa Caddick who were defrauded out $24.5 million have filed a class action against the auditors of the self-managed superannuation funds they used to invest their retirement savings with the Sydney fraudster.
NAB unit NULIS Nominees was not only allowed to charge superannuation fund members fees for adviser commissions, it was “obliged” to do so, a court has heard during a class action trial over alleged conflicted remuneration.
Investment fund Benjamin Hornigold has sued two former directors and its investment manager John Bridgeman Limited over a decision to enter into $4 million in loans.