Restructuring & Insolvency

Administrators of construction company Roberts Co Victoria, which owes $272 million to 470 creditors, are justified in treating funds as if held on trust for subcontractors on six projects in Melbourne, a judge has found.

The head company in the Roberts Co construction group has gone into administration after its NSW arm was sold off to UAE-based developer Arada earlier this month. 

Collapsed clothing brand Jeanswest has nearly $26 million in lease liabilities on stores nationwide, but buyers may bite, administrators have told the Federal Court.  

Professional services firm Alvarez & Marshal has bolstered its Australian restructuring team with the addition of two Deloitte veterans.

A judge has refused an eleventh-hour application by administrators for Strongroom AI for court approval of a sale offer ahead of a second creditors meeting, likening the bid to “putting a gun to the court's head".

Collapsed Sydney developer Dyldam has denied wrongdoing in a lawsuit alleging members of the Fayad family used $74 million in sale proceeds for personal benefit and sought to conceal that fact from business partners.

The South Australian government has flagged new legislation to clarify ownership of the Whyalla Port following legal action to wrest control of the port from Sanjeev Gupta's GFG Alliance.

Johnson Winter Slattery has hired a new partner for the firm's restructuring and insolvency team.

An appeals court has rejected Keybridge CEO Nick Bolton's challenge to a ruling that found that he and two other directors were validly removed at a board meeting, finding in favour of shareholder WAM Active. 

The ACCC has won court approval to bring claims against two companies in liquidation alleging they  engaged in unconscionable and misleading conduct in the sale of printing cartridges and cleaning chemicals.