White & Case

AI infrastructure company Firmus has entered into a long-term electricity supply agreement with energy trading company Gunvor to support two data centre projects in South Australia.

ASIC has won its case alleging Regional Express failed to correct an optimistic forecast before it entered administration last year, but failed to prove the company's optimism conveyed a "likelihood" or that three non-executive directors had actual knowledge of the collapsed budget airline's declining business. 

A judge has scolded former directors of Mosaic Brands after they failed to comply with orders made last week ahead of a 10-day public examination as special purpose liquidators investigate $196 million in potential insolvent trading claims and directors duty breach claims.

Former directors of failed clothing retailer Mosaic Brands are claiming privilege over retainer letters between Deloitte and the company as special purpose liquidators investigate potential insolvent trading and directors duty breach claims.

An ASX statement from budget airline Rex that was optimistic about its 2023 profit prospects should have been corrected by April, ASIC has told a judge, disputing claims that the statement was not a forecast but merely an expression of what the board hoped for. 

ASIC has wrapped up its case against regional airline Rex without evidence from its former executive chairman, who reversed course this week and admitted he misled investors and breached his directors duties.

The former executive chairman at regional airline Rex has admitted ASIC’s claims that he misled investors about the company’s position and breached his directors duties and may give evidence for the corporate watchdog, a court has heard. 

Four directors of regional airline Rex are set to decide this week whether they will remain silent in the face of allegations by the corporate regulator that they misled investors about the company’s financial position. 

The High Court has tossed a Mauritius company’s case seeking to enforce a $111.3 million arbitration award against India, finding the country's ratification of the New York Convention did not mean it had waived its immunity from the suit.

Crowley Australia has lost its challenge to a $6.1 million decision for contractor Latitude 63 in a payment row over the construction of fuel tanks in Darwin, with a judge rejecting claims the adjudicator should have recused himself.