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Construction group Roberts Co owes unsecured creditors almost $100 million, a court has been told as administrators secure more time for the builder’s founder to pitch a restructuring deal.
In loss for off-the-plan buyers, court finds Castle Group can proceed with Sydney land sale
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Developer Castle Group can move ahead with its purchase of a block of land in south west Sydney, with a court finding that purchasers of off-the-plan lots have no present interest that can defeat Castle’s right.
Cladding case by Infinity apartment owners not ‘without merit’: tribunal
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Although Meriton’s contractor prevailed in a cladding spat over Brisbane’s Infinity Tower, the owners corporation’s arguments were not at all stages “without merit”, a QCAT member has said in declining to award the builder its costs.
Government takes steps to advance two WA wind farms
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The federal government has taken steps towards granting feasibility licenses for two offshore wind farm projects in Western Australia.
Madigan Capital closes $625M deal for Western Sydney industrial estate
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Real estate debt asset manager Madigan Capital has closed a $625 million loan to fund the development of a 580,000sqm industrial estate in Western Sydney.
Settlement reached in class action over Melbourne development
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Investors who alleges they were misled about a Melbourne apartment development have reached a $2.5 million settlement in class action proceedings.
Penalty in ASIC case against TerraCom to wait until directors’ hearing
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Penalty proceedings in ASIC’s case against coal producer TerraCom have been put on ice until the regulator’s suit against the company’s directors goes to trial.
In ASIC win, Full Court says Qoin issuer not exempt under authorised rep rules
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ASIC has succeeded in overturning a decision that found that Qoin issuer BPS Financial came within the authorised representative exemption with respect to agreements with Australian financial services licence holder PNI.
‘No excuse’: ASIC slams poor practices by managed investment funds holding $1T
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The corporate cop has found “widespread” compliance plan failures in the managed investment fund industry, and says it is investigating some fund managers for potential breaches.
Fourth law firm mulls ad tech class action against Google
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A fourth law firm is investigating a class action against Google for allegedly abusing its dominance in the market for online advertising.