A former Holden dealer has won the right to see General Motors corporate strategy documents in the five years leading up to Holden’s retirement, in his suit claiming the carmaker’s executives misled him when saying GM was “100% committed” to the line before axing it just a few years later.
Administrators have lined up a buyer for a Forum Group entity, as a first creditors meeting confirms Westpac has the largest claim to any recoveries after an alleged $400 million fraud by the equipment leasing company.
The director of the Forum Group companies accused of a $360 million fraud involving at least three major banks can’t return to Australia from Greece because he has COVID-19, his lawyer has told the Federal Court.
Two shareholders of failed Arrium Group have secured leave from the High Court to challenge a ruling that nixed their planned examination of a former director to bolster a class action over the collapse of the steel producer.
The second meeting of creditors of embattled cladding manufacturer Fairview Architectural has been pushed back to give administrators more time to work out what is in the best interests of creditors, after the lead applicant in a class action against the cladding manufacturer submitted a $5.8 million claim.
Liquidators for collapsed steel and mining giant Arrium have successfully appealed a court ruling permitting the examination of a former director for a possible shareholder class action, with the Court of Appeal for the NSW Supreme Court finding the “private nature” of the claims was an abuse of process.
Liquidators of collapsed steel and mining company Arrium will challenge a ruling that gave shareholders the greenlight to question a former director to mount a possible class action, and have secured a limited stay of the judgment to lodge a notice of appeal.
Shareholders of collapsed steel and mining giant Arrium have won the OK to question a one-time director over possible class action claims that former officers misled the market and that auditor KPMG was negligent in preparing a healthy financial report just two years before the company went under.