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The judge who tossed a class action by Quintis' shareholders should have found a restatement of assets would have materially affected the sandalwood company's share price "as a matter of common sense", a court has been told.
The funder of a failed class action against the founder of sandalwood producer Quintis and EY and has been hit with costs, despite arguing the order would set a bad precedent.
Although finding the former director of Quintis and its auditor, EY, engaged in misleading and deceptive conduct, a judge has dimissed a class action by the sandalwood producer's shareholders.
The corporate regulator has lost its civil case against Frank Wilson, the founder of sandalwood oil producer Quintis, after failing to persuade the Federal Court he withheld from the board the termination of major supply contracts with a Nestle unit.
A judge has vacated an upcoming trial in shareholder class actions against former Quintis director Frank Wilson and Ernst & Young, after learning judgment in similar ASIC proceedings against Wilson will not be delivered before the class action hearing kicks off.
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.
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.
A judge has allowed a key US-based witness in ASIC's case against former Quintis director Frank Wilson who will not submit to 14 days in hotel quarantine to give evidence by video link.
The settlement of two shareholder class actions against sandalwood producer Quintis has been delayed for a second time, as the parties continue to investigate the company’s eleventh-hour revelation that it may have extra insurance, which, according to the lawyers of one class action, could be worth $46 million to group members.
The settlement of two shareholder class actions against sandalwood producer Quintis has been delayed after the company's eleventh-hour revelation that it may have an extra $40 million in insurance.