Corporate

Chinese builder Yuanda has settled a lawsuit against its former director that alleged he diverted building contracts, including a project with Lendlease, to his current employer SRG Global. 

A bidding war has broken out after Singaporean developer Ho Bee Land made a $390 million offer to acquire developer AVJennings, months after AVID Property Group lodged a takeover offer.

A judge has found that representatives for forex broker Union Standard used unfair tactics to pressure customers to invest in risky financial products and derived most of their revenue from customer losses, said to total $83 million.

Viva Energy has been given the all-clear by the ACCC to acquire the remaining 50 per cent share of LOC Global after agreeing to sell 14 service stations to Solo Oil.

A Herbert Smith Freehills mergers and acquisitions partner faces an internal investigation over a tweet aimed at Arnold Bloch Leibler partner Jeremy Leibler.

In the latest class action loss, a judge has said that $165 million in fees charged to members by NAB super fund trustee NULIS Nominees was corporate revenue “with which it was free to deal as it saw fit".

Rail freight operator Aurizon has secured ACCC clearance for its proposed acquisition of stevedoring business Flinders Logistics after restructuring the deal.

A judge has rejected a shareholder's bid to wind up investment firm Keybridge Capital, but allowed it to bring a derivative suit  over a $4.75 million advance used for a director to purchase a Lake Como property.

A judge has ordered self-styled real estate mogul Sasha Hopkins to pay a $1.25 million penalty for luring investors to put their life savings into risky property developments. 

A former director of investment firm Keystone, who is suspected by the corporate regulator of misusing millions in investor funds, has flagged a potential bid to keep his silence in a case by court-appointed receivers.