The liquidators of construction giant Ralan have been given the go-ahead to pursue a former sales manager and his wife as well as the ATO with claims worth over $18 million, with a judge finding the collapsed company operated “a type of Ponzi scheme”.
A private investment fund has won its claim as a secured creditor over $2 million in research and development tax refunds that a court previously found should go to employees in a fight over funds remaining following the collapse of fintech Spitfire Corporation.
Two Dixon Advisory insurers have lost a bid to limit the details of insurance policies handed over to a class action purported to worth $463 million, after a judge’s ruled the collapsed wealth manager should disclose its insurance for liability in the case.
Insurer Allianz has lost its bid to claw back millions in performance bonds provided to collapsed building company Probuild in relation to works at a $1 billion development in the Melbourne CBD.
A class action on behalf of Dixon Advisory clients with claims allegedly worth $463 million has won orders that the collapsed wealth manager disclose its insurance for liability in the proceedings. Its bid for orders that two insurers produce any relevant policies was unsuccessful.
The liquidator of collapsed vocational education provider Careers Australia can serve its lawsuit on two of the company’s former directors now living overseas, after a judge found a prima facie case of insolvent trading and breaches of directors duties had been made out.
A Federal Court judge has criticised the liquidators of coal mining company Delta for waiting over two years to file insolvent trading proceedings against former directors when the same issues of solvency had already been raised in two other cases.
Lawyerly’s Litigation Firms of 2020 delivered significant victories for clients last year in bet-the-company matters, thriving in a tumultuous year that saw courts and litigants adapt to virtual trials and other new norms that are sure to outlast the COVID-19 pandemic.
Virgin Australia unsecured bondholders contesting the sale of the embattled airline to private equity firm Bain Capital have failed in their bid to access confidential transaction documents, but a judge has urged the administrators to communicate with the frustrated creditors.
Virgin Australia’s administrators will not be responsible of any overpayments of the JobKeeper allowance, which is currently being claimed on behalf of thousands of the embattled airline’s employees.