Automotive electronics company Directed Electronics has lost its bid to revive copyright claims against a form business partner who it pursued as part of litigation over a scheme by two former employees to misappropriate its trade secrets through a secret side agreement with South Korean giant Hanhwa.
Automotive electronics company Directed Electronics is set to claw back $3.27 million in commission payments made to a former manager through a secret side agreement with South Korean giant Hanhwa, with a ruling on damages still to come in the five-year case.
The liquidators of failed engineering company Hastie Group have appealed a decision that knocked out half its $120 million case against Multiplex, Lendlease and numerous other builders.
Liquidators of Sargon Capital are pursuing a claim for $4 million against super trustee firm Diversa and are investigating potential insolvent trading claims against the collapsed fintech’s directors.
Automotive electronics company Directed Electronics has largely prevailed in a five-year-old lawsuit alleging a former manager misappropriated company information and reaped $3.6 million in commissions through a secret side agreement with South Korean giant Hanhwa.
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.
Lendlease and other major builders have secured a significant victory in a long-running case brought by the liquidators of failed engineering company Hastie Group, with a judge saying Hastie wasn’t entitled to the proceeds of bank guarantees withdrawn by the builders when it collapsed 10 years ago.
A bid by the liquidators of collapsed engineering company Hastie Group for Lendlease to pay back funds it withdrew under bank guarantees is “untenable” and “misconceived”, a court has heard in a $68 million case that also targets Multiplex, Grocon and John Holland.
Administrators for building giant ProBuild have won more time to examine its assets as they try to avoid the “nightmarish prospect” of costly delays to the company’s projects.
Truck company Isuzu has asked a court to shut down an $18 million lawsuit by Directed Electronics alleging copyright infringement, arguing that its own cross-claims –which substantially overlap with allegations in a 2017 case that went to trial — made it an abuse of process.