Corporate

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.

Macquarie Capital has hit back at a class action over an alleged misleading prospectus for Nuix’s $1.8 billion IPO, saying it was entitled as underwriter to rely on the software company's promises.

Global law firm Jones Day has recruited two corporate partners from rival Hogan Lovells to join its transactions team in Sydney.

A shareholder and creditor of failed energy company Armour Group will have to front $3.5 million in security in its case against law firm Baker McKenzie and others ahead of an upcoming trial.

Allens has advised Clean Energy Finance Corporation on a $1.9 billion investment in two Transgrid projects, one of which will connect Snowy Hydro 2.0 with Sydney and regional NSW.

Property fund manager GPT Group has announced it will increase its stake in Melbourne’s Highpoint Shopping Centre to 25 per cent in a $204.6 million transaction.