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Collapsed regional carrier Rex Airlines has won extra time before holding its second creditors meeting, as administrators continue their search for a buyer which would ensure a better deal for the airline's tens of thousands of creditors.
The former general manager of iProsperity has lost his challenge to the collapsed fund manager's liquidators getting more time to investigate $18 million in payments he received, with the Full Court finding they were not wrong to prioritise investigations into $62.5 million in payments to Crown and The Star.
The liquidator of failed global financial services firm Babcock & Brown is seeking to permanently stay a shareholder suit it says is an abuse of process, nearly five years after three other cases against the liquidator were thrown out.
Regional air carrier Rex Airlines has filed for voluntary administration after failing to compete with Qantas and Virgin on major routes.
In submissions to the High Court, the applicant in a class action brought on behalf of Arrium shareholders against KMPG has attacked the Attorney-General’s argument that a contingency fee order is a neutral factor in assessing the accounting firm’s bid to move the case from Victoria.
Booktopia’s administrators have been given more time to try to sell the online bookseller after receiving 100 expressions of interest, with a judge finding it could yield greater returns for its 170,000 creditors, who are owed a total of $68 million.
A judge has rejected an application by a director of mining tech company Globaltech to replace administrators from McGrathNicol after arguing there was an appearance of bias since their fellow partners used to be on the board of its biggest unsecured creditor, Boart Longyear.
The CFO of former market darling Big Un, who has been charged with insider trading, has been excused from filing a defence or taking other procedural steps in the collapsed company’s case against its ex-directors.
The liquidators of failed grain trader LGL Commodities have filed a professional negligence case against law firm Gadens, alleging its failure to comply with orders for evidence meant it lost the chance to win back over $6 million at trial.
Embattled online bookseller Booktopia and a number of subsidiaries have entered voluntary administration, appointing three partners from McGrathNicol to oversee a possible sale of the business.