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Three former directors of billion-dollar financial advisory firm Linchpin Capital Group will face two days of questioning in examination proceedings filed on behalf of an investor five months after the company was wound up for running an unregistered investment scheme and misleading investors.
A judge has given the all-clear to an investment management company to access evidence for potential legal action against the National Stock Exchange of Australia after the firm's shares were suspended without warning or explanation.
AIG Australia has failed to convince the Full Federal Court that an insolvency exclusion in a directors and officers policy held by Kaboko Mining should exempt it from covering claims brought by the collapsed mining company against four former executives after a failure to repay a US$5.95 million loan allegedly led to the company's insolvency.
Private construction company Hutchinson Builders has brought legal action against the Australian Competition and Consumer Commission, seeking to quash what it says is an invalid notice to produce documents to the regulator, which has vowed to bring cases against the construction industry this year.
The alleged masterminds behind the $130 million Plutus Payroll tax fraud have been barred by the Full Federal Court from using insurance to cover their $300,000 legal bill in two criminal proceedings.