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Construction PRO
Lenders for Bondi Junction property lose bid for break fee, KWM’s fees
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.
Linchpin class action settlement with AIG wins court approval
A judge has signed off on a settlement in a class action by investors in failed advisory firm Linchpin Capital, with insurer AIG paying $12.15 million and forfeiting its right to appeal a liability finding.
Construction PRO
VSD wants stay of Builtcom win pending $8.5M payment claim challenge
It lost its bid in the NSW Supreme Court to withhold a payment claim from the builder of a 30-storey project in Sydney pending an appeal, now developer VSD Investments has asked an appeals court to halt payment.
Witness in Ben Roberts-Smith case threatened to sue Nine, journalist
A witness in the Ben Roberts-Smith case threatened to sue Nine and journalist Nick McKenzie, the Full Court has learned, as the former soldier seeks to reopen his appeal following the release of a secret recording of a conversation between McKenzie and the witness.
Funder behind failed class action against Quintis director, EY fights costs order
The funder that backed a failed shareholder class action against an ex-Quintis director and EY is fighting a bid for a third-party costs order, arguing such orders shouldn't be imposed on funders where there is no doubt they will pay up.
Construction PRO
Developer, builder’s directors on hook for homeowners’ ‘worst nightmare’
Directors of a family-run construction company that caused a landslide resulting in a couple's NSW Central Coast home being "effectively worthless" has been ordered to pay over $2 million dollars.
Court to hear secret recording in Ben Roberts-Smith bid to re-open appeal
A court has allowed Ben Roberts-Smith to admit into evidence a secret recording of Nine journalist Nick McKenzie, as the former soldier makes a fresh bid to revive his failed defamation case.
Blockchain Global director owes developer $10.3M in Bitcoin, court rules
A former cryptocurrency boss who faces a criminal investigation by ASIC is on the hook for a $10.3 million Bitcoin payout to a former employee, a court has found.
Court won’t block investor in Sam Altman-backed AI firm from voting on share sale
A judge has declined to make orders blocking a general meeting of the members of Cryptai, a company with a significant shareholding in Sam Altman-backed Ai company Rain Neuromorphics, in order to consider a share sale.
Construction PRO
Purchaser of ‘defective’ ACT property loses bid for $5.3M in damages
A court has awarded only $100 in nominal damages to the owner of a $5 million industrial site in the ACT, despite finding there was cracking in a concrete slab covered by a warranty.