Restructuring & Insolvency

Professional services giant KPMG has reached a settlement in a shareholder class action over the failure of mining company Cudeco.

The deadline looms for a creditors' meeting to decide the future of collapsed building company Sharvain Façades, but its administrator wants a court to stop the clock, concerned a vote for liquidation will thwart recovery of $3.2 million from Roberts Co.

Collapsed Roberts Co Victoria will oppose a creditor’s bid for an extension in a case seeking to wind up the construction company, claiming it is “effectively on death row” and suffering reputational damage.

Medical device maker Exactech will pay $8.7 million to end a class action that alleges its joint replacement implants were defective. 

Fletcher Building has confirmed it has received inquiries from prospective buyers of its businesses, including its construction division.

Liquidators of collapsed Forge Group are close to settling their insider trading case against engineering and construction company Clough and former directors, a court has heard on what was to be the first day of trial.

Construction group Roberts Co owes unsecured creditors almost $100 million, a court has been told as administrators secure more time for the builder's founder to pitch a restructuring deal.

Medical device maker Exactech has reached a settlement in a class action over alleged defective implants, following the US company's bankruptcy.

A judge has said that asset preservation orders are likely warranted against the former head of collapsed builder Quasar Constructions, after its liquidator revealed he sold $24 million in property interests shortly before the company went under, but found he did not have power to make the orders. 

Asset manager HMC Capital, which owns 11 private hospitals operated by embattled Healthscope, has reached a rent deferral deal with receivers and says other operators have expressed interest in taking up tenancy.