Two construction companies have lost what a court has called a “puzzling” bid to oust the liquidators of collapsed FW Projects amidst a legal battle in the NSW Supreme Court over the property developer’s remaining assets.
Veritas Advisory liquidator David Iannuzzi has admitted to “quite significant deficiencies” in his conduct as a liquidator and agreed to a 10-year ban from serving as an insolvency practitioner.
Frank Wilson, solicitor and founder of failed sandalwood producer Quintis, has been ordered by a court to repay a $13.3 million loan used to invest in a 215 hectare Indian sandalwood plantation.
A judge has dismissed failed winemaker David James latest bid to overturn a $14 million guarantor judgment against him and in favour of ANZ, saying much of his sworn evidence was “manufactured” and “obviously tailored to suit his case”.
Failed lender PR Finance Group has been sued for $5 million in damages by owner Keybridge Capital and its liquidators after the company went under for breaching Australian credit laws.
A judge has refused to grant an injunction stopping the appointment of receivers to Australian cloud-based superannuation fund manager SMSF Squirrel Ltd, describing the company’s financial position as “precarious” and likely to worsen beyond its current liabilities of $7.8 million.
Melbourne property developer Steller has been put into receivership, a dramatic collapse for a firm that once boasted a pipeline of $4.2 billion worth of projects.
A court has approved a settlement between the liquidators of failed fund manager Equititrust and auditor KPMG, after not a single objection was raised by unitholders or creditors who won’t receive anything after the entire amount is paid to the funder.
A judge has refused to separately hear an application by a Clive Palmer-controlled company to wind up a time-share scheme at Queensland’s Palmer Coolum Resort, describing the bid as an attempt by the company to avoid making admissions about its conduct, which allegedly resulted in the “death of the resort”.
Failed winemaker David James has launched a fresh bid to overturn a $14 million judgment for ANZ against him, telling a court he is still pursuing the bank after six years because the dispute has “taken his life’s work”.