Restructuring & Insolvency

Former directors of Steller Developments have told a court they did not intend to guarantee the company's debt in the event of bankruptcy, as trial kicked off in proceedings by the collapsed Melbourne developer's liquidators. 

Citing rising costs of materials and labour, NSW Central Coast builder Clarke Homes has entered voluntary administration, with several building projects incomplete.

Callide Energy has failed in a courtroom bid to block the sale its partner's interest in the joint venture for the construction and operation of Queensland's Callide power station.

A judge has rejected an “ambitious and novel” freezing order sought by a creditor and former associate of bankrupt Graaf Group founder Gennaro Autore over a $22 million boutique hotel in Potts Point.

A judge has rejected a new pleading that would have upped the damages to $135 million in a case by a shareholder of failed energy company Armour Group alleging law firm Baker McKenzie was knowingly involved in a plan to take control of the company for cheap.

A court has given the consumer watchdog the OK to pursue its case against Mosaic Brands over alleged misleading delivery times, despite hearing the company will likely be liquidated.

The mother of bankrupt mining boss Ian Stolyar must pay $6.2 million from the proceeds of the sale of a Rose Bay property to the trustee of his bankrupt estate.

The federal government will take on $50 million of Rex Airlines' debt to keep the troubled regional carrier flying.

The liquidators for landbanking company Aviation 3030 can recover half of a $3.4 million landholder duty from a former director, after a judge found they reaped benefits from indirect ownership in land sold for $135 million in 2018. 

A shareholder and creditor of failed energy company Armour Group will have to front $3.5 million in security in its case against law firm Baker McKenzie and others ahead of an upcoming trial.