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Credit Suisse has dropped its claim for indemnity against insurance agent BCC under a trade credit policy issued prior to Greensill Capital’s collapse in 2021, with a judge hearing the admission marks a "complete u-turn in the case".
ASIC has won its case alleging Regional Express failed to correct an optimistic forecast before it entered administration last year, but failed to prove the company's optimism conveyed a "likelihood" or that three non-executive directors had actual knowledge of the collapsed budget airline's declining business.
A judge has scolded former directors of Mosaic Brands after they failed to comply with orders made last week ahead of a 10-day public examination as special purpose liquidators investigate $196 million in potential insolvent trading claims and directors duty breach claims.
Construction PRO
A former director of Melbourne-based Aviation 3030 has failed to overturn a finding that the liquidators of the landbanking company could recover half of a $3.4 million landholder duty liability from him.
Construction PRO
The unitholders of defunct developer 1A Eden are facing a suit by a liquidator to recover a $2.5 million judgment in favour of a North Sydney apartment building's owners corporation.
Law firm Hall & Wilcox has promoted three dispute specialists to partner as part of a bumper crop of solicitors to advance this year.
Construction PRO
The liquidators of a NSW coal mine formerly owned by Sanjeev Gupta’s GFG Alliance have applied to the court to disclaim a deed under which GFG paid handsome royalties to former owner Glencore.
An appeals court has overturned a finding that Racing NSW was not entitled to appoint administrators to the owners of Sydney’s Randwick Racecourse.
Former directors of failed clothing retailer Mosaic Brands are claiming privilege over retainer letters between Deloitte and the company as special purpose liquidators investigate potential insolvent trading and directors duty breach claims.
Construction PRO
A judge has rejected Hall & Wilcox's bid to narrow the terms of the court's inquiry into whether legal advice it provided to defunct construction group Hastie was reasonable, before a costs assessor weighs in on the firm's $18.6 million legal bill.