A court has granted the corporate regulator leave to proceed with a lawsuit against collapsed advisory firm MWL Financial for advising clients to invest $114 million in their super into Keystone’s failed Shield Master Fund.
Delivering his findings on ASIC’s action against Star Entertainment executives on Thursday, Federal Court Justice Michael Lee remarked that the “self-congratulatory submissions” of former board members named in the case were “jarring”.
In finding Star Entertainment’s former group general counsel liable for breaches of duty, the judge overseeing ASIC’s case has questioned the chief lawyer’s insistence that she “rarely gave legal advice” and that her roles with the company should be delineated.
The reluctance of Pacific Werribee Shopping Centre co-owner Wadren to withdraw a non-compliant expert report in a $356 million defects case against the collapsed Probuild has raised the hackles of the presiding judge.
ASIC has had mixed success in a case against former Star directors and officers, with a judge finding the casino operator’s former CEO and GC breached their duties but that claims against the former board fell short.
A court has rejected a bid to apportion costs by Downer after it found ICC arbitration proceedings the company brought against Squadron were invalidly commenced, saying the engineering company had lost on the core issue in dispute.
MinterEllison has advised Mirvac on a contract for a major redevelopment at the site of the former Sydney Fish Market.
The corporate regulator has launched proceedings to wind up a company in the steel empire of billionaire Sanjeev Gupta for its failure to lodge financial reports for four years.
KHQ Lawyers has snagged a leading infrastructure and energy lawyer from Macpherson Kelley for its newly rebranded construction, infrastructure and energy practice.
The Federal Court has cautioned self-represented litigants against using generative artificial intelligence to decide whether their case has merit, saying it is “not reliable for legal help”.
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