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A director of defunct Arrium has told a court he didn't believe it was necessary to revisit the steelmaker's iron ore price assumption before approving the company's 2014 accounts, even after the price fell significantly.
The corporate cop is challenging a decision that tossed its breach of duty claims against three Regional Express board members over the company's continuous disclosure failures.
On his fourth day giving evidence in a shareholder class action trial, Arrium’s former CEO has denied that the company relied on overly optimistic assumptions when making forecasts about its business, despite a history of missed targets.
Collapsed steelmaker Arrium's former chief executive has testified during a shareholder class action trial that a five-year business plan projecting a 'V-shaped' turnaround was not an unrealistic pipe dream.
A massive dip in the price of iron ore in 2014 did not ring alarm bells for failed Arrium's then CEO, a court has heard, with the former boss denying that a capital raising that year was an urgent measure in the face of the potentially 'catastrophic' drop.
Construction PRO
Super trustee REST Nominees has dodged indemnity costs but is still on the hook for paying a "cast of thousands" after losing a bid to temporarily block the sale of the Dexus bloc of shares in Melbourne Airport operator APAC.
Allens has denied a senator's claims that it exercised "poor judgment" when accepting answers from three KPMG partners as credible during an investigation into whistleblower claims.
Construction PRO
The liquidators of GFG Alliance's Tahmoor Coal are challenging a decision over a royalties deed in favour of former owner Glencore.
Arrium's former directors and auditor KPMG have lost a challenge to a key report relied on by shareholders in a class action over the collapsed steelmaker that says the company overstated the value of its assets.
An Ashurst Perkins Coie partner who has worked on some of the country's largest deals is leaving for A&O Shearman, where he will co-lead the firm's Australian corporate and M&A practice group.