Restructuring & Insolvency

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. 

The owner of the Callide power station in Queensland, IG Power, has won court approval for a recapitalisation that will see major shareholder Sev.en inject millions to cover its debts.

Keybridge CEO Nick Bolton has won a stay of orders ending the company's administration as he appeals that ruling and another that found he and two other directors were validly removed and replaced at a board meeting.

A judge has adjourned a creditor's winding up application against Perth-based green hydrogen company Infinite Green Energy, finding the delay could lead to a better outcome for creditors.

After running a successful campaign to remove three board members, major Keybridge shareholder WAM Active has convinced a court to end the investment company's administration after it provided a letter of comfort and offer to fund its debts.

A judge has given the Victorian unit of Roberts Co more time to put forward a deed of company arrangement that would save the builder from liquidation, noting liquidation could imperil its projects and subcontractors, who could not bring claims under the SOP Act if it was insolvent. 

A judge has ruled the liquidator of Special Gold can advance claims against Dyldam Developments, which the collapsed Sydney developer has called "hopeless".