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ASIC hits Griffin Coal with criminal charges over financial reports
The Australian Securities and Investments Commission has hit beleaguered mining firm Griffin Coal with criminal charges over its alleged failure to lodge annual financial reports for 2019 and 2020.
Court blocks short seller from releasing Vulcan Energy report
Lithium producer Vulcan Energy has won a court injunction blocking Beijing-based short seller J Capital from releasing a critical report on the Perth-based company for one week.
Griffin Coal told to pay Carna Group liquidators $5M for contract breach
Struggling mining firm Griffin Coal has been ordered to pay $5.1 million to liquidators of a collapsed mining services company after a judge found it had breached a contractual term not to trade while insolvent.
Ex-CEO to bring derivative lawsuit against Advanced Energy Minerals
The former CEO of Advanced Energy Minerals, which specialises in mining high purity alumina to be used in high-demand products like lithium-ion batteries and LED lights, is planning to file a derivative lawsuit accusing the company of oppressive conduct.
Squire Patton Boggs breached agreement, but not ‘grossly negligent’, court finds
An appeals court has found law firm Squire Patton Boggs breached its contractual obligations but was not grossly negligent after it was dragged into a financial dispute over the $12.5 million refurbishment of a Western Australian gold processing plant.
Quintis class actions reload as insurance brawl delays settlement approval
Two shareholder class actions against sandalwood producer Quintis that reached an in principle settlement over a year ago are moving forward following a protracted dispute over insurance, with the lead applicants getting approval to file proposed amended pleadings.
Class actions can’t pursue insurance brokers to boost Quintis settlement, court hears
Two insurance brokers have dodged being dragged into class action proceedings against sandalwood producer Quintis to boost a settlement reached last year, as a fight over insurance owed to the company to cover the settlement continues.
Blockchain firm founder beats back AFR’s bid to nix defamation case
A judge has shot down an attempt by the publisher of the Australian Financial Review to permanently stay a defamation lawsuit brought by blockchain firm Power Ledger, after the media company claimed it had had failed to comply with discovery obligations.
More law firms pulled into Quintis class action as $46M insurance dispute heats up
Three law firms will represent the insurers in new proceedings launched to resolve a $46 million insurance question delaying settlement of two shareholder class actions against sandlewood producer Quintis, bringing the total number of law firms working on the class action to eight.
Witness in ex-Quintis director’s trial must give evidence in person, judge says
In a defeat to the Australian Securities and Investments Commission, a judge has found a key witness in the trial against former Quintis director Frank Wilson must give evidence in person, delaying the hearing indefinitely until coronavirus-related travel restrictions are lifted.