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Judge signs off on $30M settlement in liquidator’s LM Investment case
Restructuring & Insolvency May 23, 2019 3:16 pm By Miklos Bolza

A Queensland Supreme Court judge has given the green light for a $30 million settlement of a liquidator’s case against failed financial services firm LM […]

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Termite Resources directors appeal $7M damages ruling for liquidators
Restructuring & Insolvency May 23, 2019 1:57 pm By Cat Fredenburgh

The former directors of collapsed mining company Termite Resources have appealed a ruling ordering them to pay $7 million in damages for allegedly breaching their duty by distributing more than $46 million to Termite’s parent company and failing to maintain a cash reserve of at least $10 million.

Oaktree places Blue Sky into receivership amid class action threat
Restructuring & Insolvency May 20, 2019 11:05 pm By Cat Fredenburgh

US hedge fund Oaktree Capital has placed fund manager Blue Sky Alternative Investments into receivership, following a tumultuous period marked by the loss of senior […]

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Court approves investors’ takeover of Angas Securities
Restructuring & Insolvency May 17, 2019 8:49 pm By Miklos Bolza

The Federal Court has approved a scheme of arrangement which will see investors take a 70 per cent stake in troubled fund manager Angas Securities, […]

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Ex-Babcock & Brown execs dodge case over botched $1.4B acquisition
Corporate May 14, 2019 10:00 pm By Christine Caulfield

A court has dismissed a long-running case against defunct Babcock & Brown executives by a private investment fund over a botched $1.4B acquisition of the […]

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ASIC wants Merlin Diamonds wound up over $13M in unauthorised loans
Restructuring & Insolvency May 14, 2019 10:25 pm By Cat Fredenburgh

The Australian Securities and Investments Commission wants ASX-listed diamond mining company Merlin Diamonds wound up, expressing concerns about the company’s solvency and over $13 million […]

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Court tosses Ponzi scheme investor’s $75M claim against liquidator Grant Thornton
Restructuring & Insolvency May 14, 2019 9:29 pm By Amelia Birnie

A court has thrown out a $75 million compensation claim filed by an investor in a Ponzi scheme alleging liquidator Grant Thornton Australia and its […]

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Judge shoots down ASIC’s ‘amorphous’ request for inquiry into liquidators
Restructuring & Insolvency May 10, 2019 3:24 pm By Miklos Bolza

A judge has dismissed an application by the Australian Securities and Investments Commission to investigate two Sydney-based liquidators, saying the regulator had failed to prove […]

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Paltar Petroleum to be wound up after judge finds ‘too much uncertainty’ in DOCA
Restructuring & Insolvency May 10, 2019 10:47 pm By Cat Fredenburgh

Oil exploration company Paltar Petroleum will be wound up after a judge rejected a proposed deed of company arrangement as containing “too much uncertainty”. Federal […]

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Judge sides with ASIC, finds insolvent hedge fund Goldsky operated without a licence
Restructuring & Insolvency May 9, 2019 6:16 pm By Miklos Bolza

A judge has found embattled hedge fund Goldsky breached the Corporations Act by providing financial services in Australia without a licence. In a judgment handed […]

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