Corporate

Australia’s largest brick manufacturer Brickworks has dropped a central claim in its competition lawsuit against a rival founded by billionaire Len Buckeridge. 

Investment fund Gateway Capital has partnered with two overseas funds to acquire the Connect Central logistics centre in western Sydney, purchasing the property from Brookfield for $330 million. 

Wine producer Accolade has won a dispute with Pernod Ricard over interim arrangements to distribute wine after it bought the French winemaker’s Australian and New Zealand businesses.

A lawsuit alleging accounting firm Pitcher Partners was involved in race car driver Max Twigg’s misappropriation of $127 million from his family has settled for $25 million plus costs. 

On day one of trial in ASIC's case accusing ten Star executives of turning a blind eye to money laundering, the court heard about a blue esky bag full of cash and people hiding under blankets to avoid CCTV.

Commercial property firm DTZ Worldwide has lost its bid for $243 million in damages related to its acquisition of United Group from UGL Limited over United's alleged failure to disclose that a key contract was “loss-making”. 

The corporate regulator has commenced an investigation into ASX’s one-day technical failure that prevented the settlement of trades on the CHESS system shortly before Christmas. 

A judge has rejected a new pleading that would have upped the damages to $135 million in a case by a shareholder of failed energy company Armour Group alleging law firm Baker McKenzie was knowingly involved in a plan to take control of the company for cheap.

Law firm Maddocks has advised Simonds Group on its $10 million pick-up of Dennis Family Homes, an acquisition expected to generate $200 million in additional revenue for the homebuilder next year.

Lendlease has finalised the $235 million sale of infrastructure investor Capella Capital to Japanese trading company Sojitz Corporation.