Liquidators for ready-made meals producer Jewel of India have lost their bid to dodge public examination over their alleged poor handling of the business’ sale and failure to investigate potential claims against the Commonwealth Bank.
A judge has allowed the liquidators of Melbourne-based Steller Development to bring proceedings against its directors, the latest claims to be leveled in the wake of the developer’s 2019 collapse, which left an estimated $300 million owing to creditors.
The High Court will clarify the so-called peak indebtedness rule used by liquidators recouping payments to unsecured creditors, granting a special leave application brought by the liquidators of collapsed forestry giant Gunns Group.
The High Court has declined a special leave application by Clive Palmer-owned mining firms challenging a judgment which ordered the billionaire to repay a $102 million loan taken out from Queensland Nickel prior to its collapse in 2016.
Commenting on the unprecedented nature of the case against her client — the so-called postbox solicitor in the Banksia Securities class action — a senior barrister has told a court of her shock at the conduct of her former colleague at the bar, Norman O’Bryan, who acted as lead counsel in the scandal-ridden litigation.
Insurance Australia Group agent Bond & Credit Company owes damages for misleading representations to Greensill Capital if the insurer was not authorised to enter into a trade credit policy at the centre of four lawsuits over the collapse of the financial services firm, a court has been told.
US bank Wells Fargo and Florida-based aviation leasing company Willis Lease Finance will have to pay $500,000 for the relocation of leased aircraft engines to Virgin after losing a High Court bid to have the airline foot the bill.
A bid by the liquidators of collapsed engineering company Hastie Group for Lendlease to pay back funds it withdrew under bank guarantees is “untenable” and “misconceived”, a court has heard in a $68 million case that also targets Multiplex, Grocon and John Holland.
The liquidator of collapsed vocational education provider Careers Australia can serve its lawsuit on two of the company’s former directors now living overseas, after a judge found a prima facie case of insolvent trading and breaches of directors duties had been made out.
Lawyers behind a scheme to defraud members of a class action over the collapse of Banksia Securities have offered $10.6 million to resolve a case that has put them on the hook for at least double that sum.