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Retirement village operator Lifestyle Communities has secured a reprieve from a ruling that found its exit fee policy was unenforceable, but has said it won’t spend the funds it collects while the stay is in place.
KKR invests $500M in Australian renewables company CleanPeak
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Private equity giant KKR has committed $500 million to speed the growth of CleanPeak Energy, an Australian company providing renewable energy solutions to blue-chip players in the commercial and industrial sectors.
iProsperity liquidators pursue Crown for $55M in gambling losses
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The liquidators of iProsperity Group want Crown to repay $55 million in company funds they say were gambled away by the real estate funds manager’s directors.
Engineering firm Daracon loses fight to expand NSW quarry
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NSW engineering firm Daracon Group has failed to overturn a state independent planning commission’s decision which rejected its plan to expand a hard rock quarry in the Hunter Region.
Charter Hall launches $147M office trust with Brisbane, Canberra properties
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Reflecting renewed interest in office assets, property investment company Charter Hall has launched a $147 million unlisted trust for investors to buy into two fully-tenanted office buildings in the ACT and Queensland.
Quintis class action says disclosure-linked share price drop ‘common sense’
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The judge who tossed a class action by Quintis’ shareholders should have found a restatement of assets would have materially affected the sandalwood company’s share price “as a matter of common sense”, a court has been told.
ICJ decision opens door to more innovative climate litigation, experts say
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A decision this week from the International Court of Justice holding countries have an obligation to protect the climate from greenhouse emissions will open the door to innovative climate litigation, experts told Lawyerly.
Consultation on proposed non-compete ban kicks off
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The federal government is seeking feedback on its proposed ban on non-compete clauses for those earning salaries under the high-income threshold and restraints of trade in employment agreements.
Bulldogs can’t escape jury trial in second fan abuse case
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The Western Bulldogs football club has lost its bid to avoid a jury trial in a second lawsuit by a fan alleging he was sexually abused as a boy by a club volunteer in the 1980s.
Class action probe claims $1B ‘wipeout’ from Keystone, Falcon funds
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A law firm is looking into a potential class action on behalf of investors who pumped $1 billion of their superannuation into two failed funds, amid fears by ASIC of “catastrophic” losses.