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A judge has issued an ultimatum to Forum Finance director Bill Papas for his "entirely unsatisfactory" conduct in failing to provide details of personal assets while defending three lawsuits that accuse him of being behind a $400 million fraud.
Administrators have lined up a buyer for a Forum Group entity, as a first creditors meeting confirms Westpac has the largest claim to any recoveries after an alleged $400 million fraud by the equipment leasing company.
Clive Palmer will seek special leave from the High Court to appeal a ruling from the Queensland Court of Appeal ordering him to return $102 million borrowed before the collapse of Queensland Nickel in 2016, and has demanded that the company's liquidators return the money he paid following the ruling.
The director of the Forum Group companies accused of a $360 million fraud involving at least three major banks can't return to Australia from Greece because he has COVID-19, his lawyer has told the Federal Court.
Japanese bankng giant SMBC has emerged as the latest lender with exposure to an alleged fraud carried out by Sydney-based Forum Finance, with proceedings filed seeking recovery of almost $99 million it says it paid to a unit of Forum Group and controversial director Bill Papas.
A unit of Australian funds manager One Investment Group is seeking to recoup almost $90 million in debts allegedly owed by three former directors of collapsed property developer Steller Group.
The Federal Court has ordered the winding up of Forum Finance, which has been accused by Westpac and French investment bank Societe Generale of a $263 million fraud, as details of the company's jetsetting director's planned return to Australia from Europe remain murky.
A $400 million class action brought by Shine Lawyers against a major Telstra and Foxtel contractor will be stayed after the company was placed into administration three months out from trial.
The director of Forum Finance, which has been accused by Westpac and Societe Generale of a $263 million fraud, is in Europe and will return to Australia over the weekend, although he has refused to tell his lawyer his exact location, a court has heard.
The auditor of stockbroker Halifax Investment Services, whose 2008 collapse left around $200 million in client funds trapped, has pleaded guilty to the first criminal charges brought over auditing services in Australia.