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Judge won’t join insurer to Reed Construction liquidator’s insolvent trading case
Restructuring & Insolvency 2019-08-12 5:55 pm By Amelia Birnie

A judge has refused to join the insurer of collapsed Sydney builder Reed Constructions to insolvent trading proceedings brought by the company’s liquidators, after finding it was unreasonable to expect the insurance company to irrevocably confirm coverage.

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Spanish energy co sues to enforce $139M arbitration award over Roy Hill mine
Arbitration 2019-08-06 12:41 pm By Miklos Bolza

Spanish oil and gas company Duro Felguera has filed Federal Court proceedings to enforce a $139 million arbitration award related to the Pilbara-based Roy Hill mine, which is majority owned by Gina Rinehart’s Hancock Prospecting.

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ASIC ‘plucking numbers out of the air’ in penalty hearing for Vocation execs, court told
Securities 2019-07-31 8:15 pm By Amelia Birnie

Lawyers for former Vocation CEO Mark Hutchinson say the corporate regulator is “plucking numbers out of the air” in its bid to secure disqualifications of up to eight years against the former executives who breached their directors’ duties in relation to the collapsed education provider.

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Forge reaches multimillion dollar settlement in shareholder class action
Class Actions 2019-07-25 1:24 pm By Christine Caulfield

Collapsed engineering and construction company Forge Group has agreed to settle a shareholder class action over alleged continuous disclosure breaches, which will see the funder pocket about $7.5 million.

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Judge dismisses ‘puzzling’ bid to boot FW Projects liquidators
Restructuring & Insolvency 2019-07-18 8:49 pm By Miklos Bolza

Two construction companies have lost what a court has called a “puzzling” bid to oust the liquidators of collapsed FW Projects amidst a legal battle in the NSW Supreme Court over the property developer’s remaining assets.

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Malaysia Airlines settles class action by Australian MH17 families
Class Actions 2019-06-26 4:01 pm By Christine Caulfield

Malaysia Airlines has reached a settlement with five Australian families whose loved ones were killed when flight MH17 was shot down over eastern Ukraine by a Russian missile five years ago.

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AIG loses appeal over insolvency exclusion in Kaboko Mining D&O policy
Insurance 2019-06-14 9:13 pm By Cat Fredenburgh

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.

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Piper Alderman partner rejected offer to leave on a ‘dignified basis’, court told
Business of Law 2019-06-03 9:22 pm By Amelia Birnie

A senior Piper Alderman partner who has launched a sex discrimination case against the law firm rejected “reasonable settlement offers” that would have allowed her to leave the partnership on a “dignified basis”, counsel for the firm has told a court.

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ASIC wins case against Vocation, former execs after 15-month wait for judgment
Securities 2019-05-31 6:21 pm By Miklos Bolza

In a win for the corporate watchdog, a court has found collapsed education provider Vocation engaged in misleading and deceptive conduct and breached its continuous disclosure obligations by failing to inform shareholders of problems with a large government contract.

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Judge blasts insurers in Forge investor class action for ‘waste of everybody’s resources’
Class Actions 2019-05-29 4:27 pm By Amelia Birnie

A judge has granted discovery of up to 32,000 documents just months out from the Forge investor class action trial, as she blasted the insurance company respondents for wasting resources after they failed to comply with the court’s previous orders.

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