Two Shaw & Partners advisers who won $580,000 in penalties and compensation against former employer Fortrend Securities face fresh litigation seeking to quash their demands for payment.
Fortrend Securites is challenging a judge’s ruling that it owes $580,000 in penalties and compensation for withholding the bonuses of two departing advisors, its second appeal in their bitter dispute.
A judge has ordered Fortrend Securities to pay $181,000 in penalties after finding it unlawfully withheld the bonuses of two financial advisers who jumped ship to rival Shaw & Partners, saying the lower penalties were appropriate despite “not a word of contrition”.
Keybridge CEO Nick Bolton has won a stay of orders ending the company’s administration as he appeals that ruling and another that found he and two other directors were validly removed and replaced at a board meeting.
After running a successful campaign to remove three board members, major Keybridge shareholder WAM Active has convinced a court to end the investment company’s administration after it provided a letter of comfort and offer to fund its debts.
A judge has found that three directors at ASX-listed investment firm Keybridge Capital were validly removed and replaced at a meeting last month.
Fortrend Securities has appealed a finding that it breached the Fair Work Act in withholding the bonuses of two financial advisors who jumped to rival Shaw & Partners.
Fortrend Securities breached the Fair Work Act in withholding the bonuses of two financial advisors who jumped to rival Shaw & Partners, a court has ruled.
Law firm Cornwalls has denied claims by a former client that it acted negligently and caused it to enter receivership, resulting in $4.8 million in losses.
Wealth manager Escada Partners has lost its lawsuit against two former partners who defected to rival LGT Crestone, with a judge finding a five-year non-compete clause was unreasonable.