Restructuring & Insolvency

Hall & Wilcox has struck back at proceedings by the liquidators for collapsed construction group Hastie, saying they have failed to specify why its $18.6 million legal bill incurred in suing two dozen builders is unreasonable.

An entity associated with the director of defunct Sydney builder Quasar Constructions has failed to hand over details about its assets to liquidators, prompting further orders with a warning from the court.

A judge has signed of on a settlement struck by the liquidator for failed financial services firm Babcock & Brown, which will resolve all remaining and future shareholder disputes, which have beleaguered the liquidator for 12 years.

Venture capital firm EVP has added 20 parties to a lawsuit seeking to recoup its $10.4 million investment in Strongroom AI, as a judge extended freezing orders against directors of the med-tech start-up.

A court has rejected a property developer's bid to challenge a payment claim decision that found in favour of collapsed builder Kenik, the contractor on a $14 million Coles and Liquorland in Taringa.

Keystone Asset Management liquidators have won expanded freezing orders to cover all property, bank accounts and luxury cars up to $158 million owned by developer Robert Filippini and related entities.

A judge has found a director of defunct IT company Novo breached his duty to prevent the company from trading while insolvent, but has stopped short of ordering damages, or making findings he breached other duties.

Liquidators of defunct investment firm Keystone Asset Management have won expanded freezing orders to cover property up to $158 million in the name of developer Robert Filippini and family members.

The liquidator of a company created to invest in an Adelaide building has failed in a High Court bid to reinstate a finding that the mortgage over the property was an unreasonable director-related transaction.

A court has appointed receivers to two entities of collapsed asset manager Australian Fiduciaries amid concerns by the corporate regulator that $167 million in funds have been misused, including to buy $600,000 in luxury cars.