Restructuring & Insolvency

BlueScope Steel is leading an international consortium that's bidding to acquired the troubled steel making facility Whyalla Steelworks. 

A liquidator for the defunct developer of a controversial south Sydney apartment building has won a bid to extend the time to bring potential voidable transaction proceedings.

Pitcher Partners has won its bid for a separate hearing on whether the liquidator of collapsed IT company Titan Interactive is entitled to any relief on its claims the accounting firm breached its duty of care in providing tax advice.

The liquidators of collapsed developer FW Projects have filed action against former directors of the company, seeking to claw back debts of millions of dollars arising from alleged insolvent trading.

Crown Casino faces court action by the liquidators of iProsperity Group, seeking the return of $55 million in company funds they say were gambled away by its directors, two of which have since left Australia.

A judge has ordered the sales proceeds of Western Sydney properties linked to former Dyldam director Sam Fayad to be paid into court, saying there was an arguable case that the sales were intended to defraud creditors.

The liquidators of iProsperity Group want Crown to repay $55 million in company funds they say were gambled away by the real estate funds manager's directors.

A court has approved a deal under which collapsed TC Build Group will be joined as a plaintiff in action by construction company Alta Vale Residential to claw back $9.6 million allegedly owing for work on various projects.

A court has permanently stayed a case by a founding director of solar developer Sun Bred, saying that if the company was forced to defend the suit, there would be less than $71,000 left to meet the exec's $8.5 million claim. 

Dyldam Developments' former boss Sam Fayad and his two sons have been ordered to pay over $50 million in a case by the liquidator of a special purpose vehicle claiming company funds were misused.