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.
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failed engineering company Hastie Group, with a judge saying Hastie wasn’t entitled to the proceeds of bank guarantees withdrawn by the builders when it collapsed 10 years ago.
Mayfair 101 has settled with liquidators of collapsed IPO Wealth Holdings after they won a bid to re-examine former director James Mawhinney over the transfer of “considerable funds and assets” from the fund to other entities.
Investment manager Payton Securities has lost a bid to recoup claimed losses over $1.4 million stemming from an allegedly negligent property valuation by Bertacco Ferrier, with a judge finding that the company had not retained the valuer and was not a party to the valuation.
The former director of Mayfair’s failed IPO Wealth Holdings, James Mawhinney, has lost his challenge to a judge’s decision allowing liquidators to examine him for an eighth day about the transfer of “considerable assets and funds” from the fund to other entities he controlled.
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.
The liquidators of Mayfair’s failed IPO Wealth Holdings have won their bid to question the fund’s former director, James Mawhinney, for the eighth time over assets that could provide “significant potential recoveries” for shareholders.
The CEO of Bob Jane T-Marts has failed to halt his public examination by the liquidator of the firm Last Lap, which is currently involved in a shareholder dispute with the Australian tyre franchise.
A judge has ordered 17 companies connected to Mayfair’s “failed” IPO Wealth Fund to be wound up after finding the fund’s director put investor money at risk through “highly speculative” investments to make a windfall for himself.
Companies associated with Mayfair’s IPO Wealth Fund should be wound up because they contained assets “artificially inflated” in value and ran what was effectively a Ponzi scheme, the Victoria Supreme Court has heard.