Former Dick Smith executives Nick Abboud and Michael Potts have pointed the finger at the defunct electronics retailer’s other directors in response to cross claims by auditor Deloitte, which is named in two shareholder class actions over the company’s collapse.
The liquidators of failed construction company Walton Construction are seeking to reinstate and then wind up a unit of restructuring advisory firm Mawson Group, which was hired to extricate Walton from $18.8 million in debts with National Australia Bank prior to its collapse.
German-based 3A Composites has issued an ultimatum in the high-stakes combustible cladding class action against it, saying it will try to shut down the matter as a representative proceeding if group member registration and opt out are not initiated.
3A Composites has slammed the pleadings in a class action against it over allegedly combustible cladding, questioning whether the stated common issues are actually common to all group members.
Law firm Quinn Emanuel Urquhart & Sullivan will push forward with an investor class action against failed engineering company RCR Tomlinson on its own, with two firms driving competing actions agreeing to step down after a judge forcibly consolidated all three proceedings.
German cladding manufacturer 3A Composites has denied that its cladding is unsafe and caused class members loss and damage, instead pointing the finger at unknown third parties and arguing the Federal Court does not have jurisdiction to hear the matter.
The plaintiffs in three competing RCR Tomlinson shareholder class actions have been told to “get their act together” by the judge who forcibly consolidated their proceedings, after the parties revealed they were as yet unable to agree on joint funding terms.
National Australia Bank and the director of the collapsed Walton Construction face a possible lawsuit over more than $70 million in claims after the Federal Court gave the greenlight to the appointment of a special purpose liquidator to pursue the case.
The judge overseeing three competing shareholder class actions brought against RCR Tomlinson has refused to entertain a beauty contest, instead deciding to consolidate the proceedings whether the parties “agree or not”.
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.