Restructuring & Insolvency

Professional services firm Alvarez & Marshal has bolstered its Australian restructuring team with the addition of two Deloitte veterans.

A judge has refused an eleventh-hour application by administrators for Strongroom AI for court approval of a sale offer ahead of a second creditors meeting, likening the bid to “putting a gun to the court's head".

Collapsed Sydney developer Dyldam has denied wrongdoing in a lawsuit alleging members of the Fayad family used $74 million in sale proceeds for personal benefit and sought to conceal that fact from business partners.

The South Australian government has flagged new legislation to clarify ownership of the Whyalla Port following legal action to wrest control of the port from Sanjeev Gupta's GFG Alliance.

Johnson Winter Slattery has hired a new partner for the firm's restructuring and insolvency team.

An appeals court has rejected Keybridge CEO Nick Bolton's challenge to a ruling that found that he and two other directors were validly removed at a board meeting, finding in favour of shareholder WAM Active. 

The ACCC has won court approval to bring claims against two companies in liquidation alleging they  engaged in unconscionable and misleading conduct in the sale of printing cartridges and cleaning chemicals. 

The owner of the Callide power station in Queensland, IG Power, has won court approval for a recapitalisation that will see major shareholder Sev.en inject millions to cover its debts.

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.

A judge has adjourned a creditor's winding up application against Perth-based green hydrogen company Infinite Green Energy, finding the delay could lead to a better outcome for creditors.