The liquidators of real estate investment company Global Capital Property Fund have sued the company’s current and former directors, alleging breaches of fiduciary duties in relation to a Queensland development.
Engineering firm Clough Projects Australia is challenging a judge’s order staying its $54 million cross-claim against former Energy Connection joint venture partner Elecnor.
A class action against Blue Sky Alternative Investments won’t seek to transfer the case to contingency fee-friendly Victoria despite a High Court ruling that put the kibosh on solicitors’ common fund orders.
Elanor Funds Management has recommended shareholders reject a $284 million unsolicited takeover bid by the Lederer Group, saying the price is “opportunistic” and materially undervalues the commercial property fund.
Real estate asset manager Dexus wants information that the Asia Pacific Airport Corporation gave to several consultants in a court battle over allegations it breached a shareholder deed in selling a stake in the airport operator.
The corporate regulator should not be immune from the risk of special costs for actions doomed to fail, says a judge who flayed ASIC last month for bringing a case against TerraCom directors it should have known was a dud.
GFG unit Whyalla Ports has won its bid to rub out some expert evidence put forward by OneSteel about the costs of dismantling and removing assets from the site in their dispute over control of the assets at the South Australian port.
The High Court has unanimously found the Federal Court has no power to allow solicitors to take a cut of a settlement or judgment in a shareholder class action against Blue Sky, saying it would be contrary to rules against contingency fees in NSW.
A lawsuit against Transgrid by the winning bidder for a contract to build a substation for the Melbourne Renewable Energy Hub, which sought $11 million in extra costs and damages for alleged union disruptions, has been settled.
A judge has expressed worries that a class action against EY and collapsed Blue Sky Alternative Investments is “drifting” amid concerns from the defendants about “indulgent” discovery and potentially “significant” pleading changes.