The liquidators of Melbourne-based forex trader Berndale Capital have filed examination proceedings in the Federal Court seeking to question the company’s former CEO and its other directors.
A court has allowed a bankruptcy trustee to drop an “extremely disadvantageous” litigation funding agreement, which provided the funder with an 85 per cent commission, previously signed to pursue a Perth-based engineering and construction company.
An Ashurst partner that argued a judge was “confused” when he decided to appoint liquidators to his luxury Point Piper home in a dispute with an ex-judge neighbour has lost his challenge to the ruling.
A shareholder of struggling gold company Orinoco Gold has been granted limited access to the company’s books after the firm was placed into administration on the back of an abysmal year on the ASX which saw it share value plummet by more than 97 per cent.
The Australian liquidator of Lehman Brothers has filed a lawsuit seeking $40 million from Fitch Ratings for assigning too-rosy ratings to toxic financial products sold by the bank, following the discovery of a hidden table in Fitch’s rating model by the lawyers leading a now-settled class action against the accounting firm.
The head of Australia’s largest unlisted insurance broker, Coverforce, may face a future damages claim for misleading or deceptive conduct if a recent acquisition of former Suncorp unit Resilium is not reversed, a court has found.
A judge has signed off on a $16.5 million settlement of a shareholder class action against collapsed engineering and construction company Forge Group.
There is a “reasonable chance” that two shareholder class actions against failed electronics retailer Dick Smith will settle by February of next year, group members have learned.
A US institutional investor can use hindsight evidence in its breach of contract case against a former ANZ Bank trustee over the winding up of failed defence tech firm Metal Storm.
Liquidators of collapsed steel and mining company Arrium will challenge a ruling that gave shareholders the greenlight to question a former director to mount a possible class action, and have secured a limited stay of the judgment to lodge a notice of appeal.