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The Full Federal Court has reimposed bans against four former directors of collapsed retirement village owner Prime Trust, including former federal health minister Michael Wooldridge, following a successful High Court challenge by the Australian Securities and Investments Commission.
Perth-based Farooq Khan has lost a key case in the battle for control over investment firm Keybridge Capital, after a judge invalidated a board decision to suspend activist investor Nicholas Bolton as CEO and terminate chair John Patton on the basis of Khan’s breach of his directors’ duties.
Counsel for a class action against Arnold Bloch Leibler alleging negligence over advice to Slater & Gordon has criticised the law firm's barrister for seeking more time to file a possible dismissal application because he was "only briefed yesterday", saying the excuse had become an all too frequent one.
Hong Kong-based UDP was entitled to $25 million from its insurers after losing more than $30 million from its disastrous acquisition of dairy conglomerate 5 Star Foods, which had been secretly overcharging one of its biggest customers, food giant Lion Nathan Group.
The competition regulator has signed off on Viva Energy's proposed acquisition of the remaining 50 per cent of Liberty Oil's wholesale business, saying the deal was not likely to substantially likely to lessen competition in the wholesale fuel market.
Two name partners at law firm Tucker & Cowen have lost another attempt to dismiss a case brought against them by the receivers of failed fund manager Equititrust over $17.5 million in funds allegedly obtained by deceptive means.
A partner at Big Six firm Ashurst has lost his bid to stop liquidators taking control of his Point Piper home in a long-running dispute with his ex-judge neighbour, after parts of his case were dismissed as “bordering on irrational”.
The Australian Securities and Investments Commission has won its bid to use evidence from US proceedings in its case against Rio Tinto alleging the mining giant misled shareholders about a Mozambique mining company purchased for US$4.2 billion.
A judge has urged a partner at Big Six firm Ashurst not to "keep a fight going just because you can’t let it go", after the lawyer tried to challenge a court ruling over a long-running building dispute with his neighbour, a former Family Court judge, in the exclusive Sydney suburb of Point Piper.
The Australian Competition and Consumer Committee has flagged preliminary competition concerns and called for public submissions on a proposed sale by US-based timberland investment manager Resource Management Service of its Tasmanian assets.