To avoid a creditor panic in the midst of the COVID-19 health crisis, the NSW Supreme Court has appointed a receiver instead of a liquidator to a rural hotel that is the centre of a deadlocked shareholder dispute over more than $2.7 million.
A restaurant director will have to pay over $33,000 in unpaid tax after an appeals court found that despite a prolonged period of severe illness it was still reasonable to expect that management of the business and the fulfillment of tax obligations would continue.
Clive Palmer and his company Mineralogy have survived a High Court challenge by Hong-Kong based CITIC to a ruling that put it on the hook for at least $224 million in unpaid royalties from producton at the Sino Iro mine, but a related $297 million suit by Palmer against the Chinese conglomerate has flopped.
Two special purpose liquidators appointed to collapsed engineering and construction company Forge Group are investigating a potential lawsuit against KPMG, which audited the doomed business prior to its $800 million collapse in 2014.
The Australian Competition and Consumer Commission has failed in its challenge to a ruling that dismissed its bid-rigging case over mining exploration licences involving Cascade Coal and the sons of jailed Labor politician Eddie Obeid.
ASIC has abandoned its market manipulation case against National Australia Bank contractor Whitebox Trading, just over a month after the financial regulator decided to appeal the Federal Court’s primary decision to throw out their case.
The Australian Securities and Investments Commission is challenging the dismissal of its enforcement action against National Australia Bank contractor Whitebox Trading and sole director Johannes Boshoff, which accused them of market manipulation that resulted in a spike in the price of securities on the ASX-200 index in October 2012.
The Australian Securities and Investments Commission has lost its market manipulation action against Whitebox Trading and its director Johannes Boshoff, with the court finding it was “practically impossible” that any of the trades at the centre of the case were made for an illegitimate purpose.