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Trustee of Mayfair’s IPO Wealth looks to dodge liability in $86M class action
Class Actions 2021-04-26 5:53 pm By Miklos Bolza

The trustee of Mayfair Group’s collapsed IPO Wealth Fund has denied claims in a class action that it misled investors who lost $86 million when […]

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Westpac gets lion’s share of proceeds from ‘anxious’ sale of collapsed fintech Sargon Group
Restructuring & Insolvency 2021-04-26 4:04 pm By Miklos Bolza

Westpac will recoup the majority of proceeds from the $29.6 million sale of collapsed fintech Sargon Group, with a judge calling the company’s liquidators “anxious […]

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ASIC asks court to approve receivers to sell Melissa Caddick’s assets
Restructuring & Insolvency 2021-04-23 10:06 pm By Cat Fredenburgh

Two months after the remains of accused fraudster Melissa Caddick were discovered on a NSW beach, ASIC is seeking to appoint final receivers to realise […]

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Creditors vote to place debt-laden Greensill in liquidation
Restructuring & Insolvency 2021-04-22 3:46 pm By Christine Caulfield

Creditors of Greensill Capital have voted to liquidate the company’s assets after no buyer emerged to rescue the debt-stricken financial services firm. A total of […]

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Creditors of LGL Commodities may have case against lawyers, judge says
Restructuring & Insolvency 2021-04-21 3:35 pm By Christine Caulfield

Creditors of collapsed grain trader LGL Commodities might have a right of action against solicitors for the company’s liquidators for failing to comply with court […]

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Greensill Capital administrators recommend winding up as ‘only suitable option’
Restructuring & Insolvency 2021-04-15 11:29 pm By Christine Caulfield

Administrators appointed to the Australian arm of supply-chain finance firm Greensill Capital are recommending that creditors, which are owed in excess of $1.75 billion, vote […]

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Clive Palmer hit with indemnity costs for ‘hopeless’ case against Queensland Nickel
Restructuring & Insolvency 2021-04-14 3:49 pm By Cindy Cameronne

Two Clive Palmer companies have been slugged with indemnity costs after they were blocked from accessing documents held by two law firms and a litigation […]

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Forge directors fail to explain need for multiple law firms in liquidators’ case, judge says
Banton Group 2021-04-14 2:15 pm By Miklos Bolza

A judge has slashed security for costs sought in a case brought by the liquidators of engineering and construction company Forge Group after the former […]

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Credit Suisse seeks to wind up Whyalla steelworks on back of Greensill collapse
Restructuring & Insolvency 2021-04-07 10:44 am By Miklos Bolza

Global investment bank Credit Suisse has launched legal action in the wake of the collapse of Greensill Capital seeking to wind up two firms helmed […]

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Greensill Bank to avoid asset seizure for now as Australian creditors named
Restructuring & Insolvency 2021-03-31 6:18 pm By Cindy Cameronne

A judge has allowed a German bank owned by Greensill Capital, which owes creditors over $1.75 billion, to temporarily avoid seizure of its assets as […]

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