Restructuring & Insolvency

The administrators of a Northern Territory iron ore company have won extra time to hold a second creditors meeting in hopes of securing a deed of company arrangement, despite protests from creditor Aurizon.

Allens has added a Baker McKenzie partner to its restructuring practice in Sydney. 

Medtech start-up Strongroom AI has lost its bid for a court order blessing its proposal to sell the company to SRSPV Pty Ltd prior to a second creditors meeting.

The liquidators for defunct Perth builder Modco Residential have won court approval to bring claims for unfair preferences and unreasonable director-related transactions against multiple defendants in one "mothership" case.

Liquidators of the ABD Group of construction companies have won a brief reprieve from the three-year limitation period to launch voidable transaction cases worth up to $23.2 million.

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.

Liquidators of collapsed builder Privium have won extra time to pursue potential proceedings over a number of suspicious transactions, which include unexplained payments to companies associated with a director.

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

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.