Sydney pub baron Jon Adgemis has been declared bankrupt and his properties have been sequestered, with the Federal Court finding the former KPMG partner owes $1.8 billion to creditors.
Renewables project Snowy Hydro 2.0 has said it will not be able to complete the ambitious infrastructure project within its $12 billion budget, which was previously increased from $2 billion.
St Hilliers unit Thornton Operations has won court approval for a $450 million plan to develop a mixed-use precinct that includes 526 homes, after reaching an agreement with the local council.
Air conditioning wholesaler Polyaire has been ordered to pay $15.2 million in damages in relation to a 2018 fire at a Seven Hills, NSW, factory complex it leased caused by its placement of wooden pallets in a open yard.
Real estate investment trust Dexus Industria REIT has agreed to acquire two warehouses in Melbourne’s south-east for a combined price of $47.5 million.
Mayfield Developments says the High Court should overturn a finding that NSW Ports was protected by derivative Crown immunity in entering allegedly uncompetitive agreements to privatise two ports, saying the decision could have “startling” consequences such as allowing the state to devise cartel arrangements.
On the eve of a Federal Court bankruptcy hearing, Sydney-based publican Jon Adgemis and founder of Public Hospitality Group has declared bankruptcy, days after five of his pubs were placed into receivership.
Warning of the propensity for major events procurement to attract cartel conduct, the competition regulator is encouraging the Queensland government to share data on bids for Brisbane Olympics projects.
A Melbourne developer has sued its director, alleging that he unlawfully issued himself shares in an industrial estate development in Epping using a “simulated” signature, a claim which the director denies.
Swiss greentech company Kanadevia Inova has been hit with another suit by the receivers over a contract for the $500 million East Rockingham waste-to-energy plant in Western Australia.