Restructuring & Insolvency

A creditor of developer The Gosford has filed an appeal in a dispute over a $185 million property in Sydney, after a judge found that $48 million owed by builder Shinetec to its parent company after the developer called on a letter of credit fell within the definition of ‘secured money’.

A former White & Case lawyer with experience in Australia and in New York has returned to the firm’s Sydney office as a partner after a stint at King & Wood Mallesons

The purchaser of the site of the 108-room hotel Continental Hotel Sorrento has sued a consortium that rescued the development after it hit financial troubles, claiming it was excluded from the final stages of the receivership.

A judge has removed a liquidator from the winding up of a Victorian cabinetry business, finding he failed to act honestly by settling unfair preference claims with tax agencies without disclosing key information. 

A judge has refused to set aside a deed of company arrangement passed by creditors of construction company Mercon, finding that the owners corporation of a 33-unit development has not proved the value of its $4.2 million claim. 

A judge has recused herself from a case by liquidators for real estate investment firm Global Capital Property Fund against Point Bay Developments, after hearing the corporate regulator's application to wind up the fund.

The liquidators of a defunct developer FSM have lost their bid to access unredacted copies of emails between Ray White Capital and King & Wood Mallesons.

An appeals court has quashed the conviction of the former CEO of Bruck Textile Technologies, finding it was not open to the court to convict him despite his guilty plea.

Crown Resorts has lost a fight against a proposal by funders for iProsperity Group's liquidators to put up an after-the-event insurance policy as security for costs in a case that seeks to recover $55 million in gambling losses.

A judge has called out the directors of failed Super Rugby club Melbourne Rebels for their “startling” inability to explain their case against the club’s administrators and the tax office.