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Major insolvency reforms to reboot economy draw criticism from lawyers
Restructuring & Insolvency 2020-09-24 1:50 pm By Christine Caulfield

The Morrison government has announced significant reforms to insolvency laws as part of its economic recovery plan that take inspiration from US chapter 11 laws, […]

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Mayfair’s Mawhinney hires Ashurst after lengthy ASIC submission
Financial Services 2020-09-23 11:34 am By Miklos Bolza

The director of the beleaguered Mayfair investment group, who has been self-represented in winding up proceedings by ASIC, has now entered into a late stage […]

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Clive Palmer can’t get law firm, funder docs for possible Queensland Nickel claim
Restructuring & Insolvency 2020-09-23 4:39 pm By Miklos Bolza

The Queensland Supreme Court has shot down an “entirely speculative” bid by two Clive Palmer-owned companies to access information held by two law firms and […]

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‘Sad and tragic’: Court winds up Mayfair’s IPO Wealth Fund
Restructuring & Insolvency 2020-09-17 5:53 pm By Miklos Bolza

A  judge has ordered 17 companies connected to Mayfair’s “failed” IPO Wealth Fund to be wound up after finding the fund’s director put investor money […]

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Mayfair director should not be put in charge of other people’s money, court told
Restructuring & Insolvency 2020-09-16 7:09 pm By Miklos Bolza

Companies associated with Mayfair’s IPO Wealth Fund should be wound up because they contained assets “artificially inflated” in value and ran what was effectively a […]

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Banksia judge orders Alex Elliott to reveal financial interests in father’s companies
Class Actions 2020-09-15 7:01 pm By Alison Eveleigh

Alex Elliott, the son of former Banksia Securities class action lawyer Mark Elliott, must hand over documents revealing his financial interests in his father’s litigation […]

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Mayfair director slams ‘erroneous’ Deloitte report in ASIC winding up case
Restructuring & Insolvency 2020-09-15 7:17 pm By Miklos Bolza

The director of besieged investment group Mayfair 101 has called for an investigation into the Australian Securities and Investments Commission, calling a winding up proceeding […]

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Ernst & Young faces $12M damages claim over collapse of soda ash maker Penrice
Financial Services 2020-09-15 11:58 am By Cat Fredenburgh

Ernst & Young is facing a claim for $12 million in damages in a lawsuit over its auditing of collapsed soda ash maker Penrice. Sydney-based […]

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New rules for funders of insolvency claims: Business as usual for some, not for all
Expert Insights 2020-09-14 11:44 pm By Christine Caulfield

Recent changes in the Australian regulation of third-party funders will have a dramatic effect on the funding of certain disputes. Although these changes were accompanied […]

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Trial in Mayfair 101 case vacated as ASIC expands misrepresentation claims
Financial Services 2020-09-09 1:50 pm By Christine Caulfield

The trial scheduled for this month in ASIC’s case against the Mayfair 101 group has been pushed off as the regulator adds claims that the […]

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