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Rising costs and evolving shopping trends have forced 188-year-old department store David Jones into voluntary administration, a day after its landlord revealed the retailer had not paid rent since September.
The property developer linked to collapsed investment funds Shield and First Guardian took the stand in court on Wednesday to face a grilling by liquidators, as investigators try to claw back the $1 billion in missing investor funds.
Construction PRO
Department store brand David Jones has not paid rent since September and its private equity owner has rejected a "generous offer" to continue trading, landlord Scentre Group has said.
Construction PRO
Liquidators for the Tahmoor coal mine in NSW have told a judge they fear confidential information could be misused if law firm Norton Rose Fulbright continues to act for two companies linked to steel tycoon Sanjeev Gupta.
Construction PRO
Mallesons has asked a court to set aside an examination summons filed by the liquidators of defunct developer FSM against a former senior associate of the firm.
Construction PRO
The former administrators of Callide Power Station are locked in a dispute with IG Power over their remuneration, with a court hearing that only very minor concessions had been made to close a $1.5 million gap between them.
Construction PRO
An off-the-plan purchaser has been refused leave to be heard in a case by liquidators against the collapsed construction giant Ralan's former sales manager and his wife, with a judge finding the purchaser's submissions failed to identify which company allegedly owed her.
Former directors of failed clothing retailer Mosaic Brands have failed to shield documents recording safe harbour advice they received from Hamilton Locke, with a judge finding privilege was waived after the advice was included in board minutes and provided to the administrators.
Former CEO and chairman of budget airline Rex Lim Kim Hai has been hit with a $800,000 penalty and a four-year disqualification order for admitted breaches of his continuous disclosure obligations.
The liquidators of a subsidiary of collapsed media company Big Un have lodged an appeal after a judge tossed their case against financier First Class Capital alleging a three million share purchase was part of a scheme to inflate the company's stock price.