More than three years after filing a class action against failed asset finance lender Axsesstoday and auditor PricewaterhouseCoopers over a $50 million prospectus, the applicant has asked a court to file a new statement of claim that will join insurer Dual Australia to the case.
Gilbert + Tobin has lured partner Orla McCoy from Clayton Utz to co-head the law firm’s leading restructuring and insolvency team, strengthening the practice to over 18 core lawyers.
Weeks after giving the thumbs up to common fund orders at settlement, the Full Federal Court has been asked to decide whether judges have power to order payment of a commission to class action solicitors — not just funders.
ASIC has escaped an individual insolvency practitioner’s bid for indemnity costs in its failed case alleging illegal phoenix activity, with a judge finding the regulator did not unreasonably reject a settlement offer that would have netted it “a considerably better result” than it won at trial.
The High Court has denied special leave to the Commonwealth on behalf of employees of collapsed fintech Spitfire in a battle over $2 million in research and development tax refunds.
The High Court has denied a bid for special leave by the Commonwealth Bank and other lenders to challenge a ruling that found two Arrium directors did not mislead them about loan drawdown notices ahead of the steel company’s $2.8 billion collapse.
Probuild Constructions has failed in its special leave application to the High Court, which sought to challenge a ruling that it held $7.7 million in trust for insurer Allianz under a deed of indemnity in connection with the development of West Side Place in Spencer St, Melbourne.
The Australian Securities and Investments Commission has lost its bid to temporarily restrain payday lenders Cigno and BSF Solutions from enforcing loan fees against 7,000 customers, with a judge finding an injunction could destroy their businesses.
Grocon has taken another hit in its $270 million lawsuit against Infrastructure NSW over a stalled $2 billion Central Barangaroo development project, with a judge rejecting its claim of privilege over more than 15,000 documents.
The receivers of Sydney fraudster Melissa Caddick’s estate have reached an agreement with her husband on a small pool of remaining assets in dispute that will see half of her teenaged son’s sneaker collection sold to repay defrauded investors.