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Budget Australian airline Bonza owes almost 58,000 customers, 320 employees and 130 suppliers after it was put into voluntary administration last week when aircraft lessors claimed the airline was in default and grounded its planes, a court has heard.
Investment firm London City Equities is seeking to have fellow publicly traded firm Excelsior wound up for alleged shareholder oppression over its decision to sell off a subsidiary for $101 million and not distribute the proceeds.
The former director of collapsed investment advisor Linchpin Capital hit hardest by a judgment disqualifying him and three other directors and levying a combined $390,000 in penalties has filed an appeal.
A judge has refused to retroactively approve a conditional costs agreement between a liquidator and a Sydney law firm to pursue claims against a former director and employee of defunct project management firm AJW, rejecting as misconceived the claim that approval had utility only after a settlement.
Four current and former Linchpin Capital directors have been disqualified from heading up companies and hit with a combined $390,000 in penalties, after a judge found they improperly used their positions as directors to line their own pockets.
A judge has rejected Facebook owner Meta's request to pause a case by the Australian Competition and Consumer Commission over scam cryptocurrency ads until a private criminal action by mining magnate Andrew Forrest is decided.
A self-represented applicant is challenging the permanent stay of his competition class action against Google and Meta over the digital companies' decision to ban cryptocurrency ads.
A judge has permanently stayed a class action accusing Meta and Google of breaching competition law by banning cryptocurrency ads, finding there was a potential for conflicts between the self-represented applicant, who is also funding the case, and group members.
Westpac has settled its claims against the father of Forum Finance director Vince Tesoriero, who along with fellow director Bill Papas is accused of perpetrating a $400 million fraud against the bank to fund their lavish lifestyles.
An appeals court has said that while it might be desirable for law firms to disclose their involvement in drafting expert reports, they are not legally obligated to do so, overturning a finding that Corrs Chambers Westgarth went “far beyond the permissible scope” of involvement in a report prepared for a trade secrets case.