Restructuring & Insolvency

Receivers for the troubled $500 million East Rockingham waste-to-energy project may have to explore other options after the ACCC expressed competition concerns about Acciona's bid to acquire the project in Western Australia.

An appeals court has held that directors cannot be found guilty of unlawfully making a deal to prevent employees from receiving their entitlements if they believe they could be paid out under the Fair Entitlements Guarantee scheme.

A Victorian construction company is fighting a bid by a creditor it says should not be allowed to “come out of the woodwork” and take over the winding up application of a company that has since been deregistered.

Administrator appointments for construction companies leaped 20 per cent in the latest financial year, according to data released by the corporate regulator.  

A judge has given a liquidator approval to continue with claims at trial against former executives of failed Sydney developer Dyldam after they declared bankruptcy.

Receivers of the $500 million East Rockingham waste-to-energy project will have until the end of September to hash out a plan to maximise creditor returns, as Acciona's wait for approval of its bid to acquire the plant continues.

In a new suit against the developer of an abandoned $185 million project in Sydney, Shinetec has asked the court to declare its priority interest in a $48 million payment recently paid to the developer by Bank of China.

A judge has given the greenlight to a $10 million settlement with entities linked to late solicitor and Banksia class action mastermind Mark Elliott, noting the “perverse” difficulty of recovering more of the $70 million in assets held on trust.

Baker McKenzie has poached a banking and finance partner from Norton Rose Fulbright.

A liquidator has opened his case over the alleged misuse of funds by now defunct Dyldam Developments, as the court hears of “oddities” in financial records and the spaghetti-like structure of 157 interrelated entities.