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The Australian Securities and Investments Commission has won its case against four Linchpin Capital directors after a judge found they duped their clients into lining the directors’ pockets and benefitting the parent company.
Companies linked to the wife of the disgraced Banksia Securities class action silk Norman O'Bryan have offered $1.25 million to settle proceedings seeking to recover a $21.5 million judgment for defrauded investors.
Insurer Bond & Credit Company has overcome an administrator's protests and won leave to bring cross-claims against three Greensill entities in lawsuits over the financing firm’s $1.7 billion collapse.
An investor class action has reached a settlement with four former directors of defunct Linchpin Capital, leaving only allegations against AIG Insurance, which is allegedly seeking to withdraw an admission that directors were insured under a D&O policy.
A senior barrister who represented Mayfair 101 founder James Mawhinney in mediation of two cases last year has been allowed to appear against him at a hearing in another dispute against a lender and two McGrathNicol receivers, but the silk won’t participate in settlement talks.
Construction company Richard Crookes plans to appeal a ruling which found the Security of Payment Act is available to insolvent builders to pursue debts under a deed of company arrangement, despite an amendment to the law preventing construction companies in liquidation from enforcing payment claims.
A liquidator for two related NSW printing companies has launched a High Court challenge to overturn a judgment finding a joint right to sue another business for $330,000 could not be combined in a pooling order.
In a landmark ruling, the NSW Supreme Court has found the Security of Payment Act is available to insolvent builders to pursue debts, despite an amendment to the law that prevents construction companies in liquidation from enforcing payment claims.
King & Wood Mallesons has denied the claims in a lawsuit by defunct stockbroker Halifax Investment Services alleging it failed to advise it of an obligation to hold client funds on trust, and has said another law firm should also take the blame if it is found negligent.
A class action accusing Virgin Australia of failing to disclose its true financial position in a 2019 prospectus for a $324 million capital raising is seeking to join a slew of the airline's insurers to the case.