The High Court has agreed to hear the appeals of two former Dick Smith exes following judgments that awarded a total of $55 million in damages to NAB and the receivers of the defunct electronics retailer.
Two former executives of defunct electronics retailer Dick Smith have asked the High Court to hear their challenge to a $11.8 million damages award for approving a dividend payment the company could not afford.
An appeals court has found that two former executives of collapsed electronics retailer Dick Smith should pay the company’s receivers $11.8 million in damages for approving a dividend payment the company could not afford.
The former CEO of failed electronics retailer Dick Smith should be held responsible for approving two dividend payments worth $28.5 million which the company could not afford to pay given it owed millions in unpaid bank loans and supplier debts, an appeals court has heard.
The law firms and barristers who defended former Dick Smith directors in sprawling litigation over the failure of the electronics retailer earned close to $68 million in fees, a court has heard.
National Australia Bank and HSBC should be “jointly and severally liable” to pay a portion of the costs of a failed case brought by Dick Smith’s receivers against the company’s former directors because the banks stood to gain financially if the lawsuit was successful, the NSW Supreme Court has heard.
The Commonwealth Bank of Australia will have to hand over a preliminary tranche of documents relating to seven large-scale oil and gas projects it is financing in a lawsuit that will test whether the bank has complied with its stated commitments on climate change.
The Murray Darling Basin Authority can’t rely on defences claiming it is a “public or other authority” to limit the liability of a class action brought over alleged negligent water management, an appeals court has found.
Dick Smith’s former CFO will appeal a $43 million judgment in favour of National Australia Bank over his role in the retailer’s collapse.
Chinese lender Aoyin must pay PricewaterhouseCoopers’ legal costs for a vacated trial after Aoyin’s eleventh hour decision to join Baker McKenzie to a $10 million cross-claim in a dispute concerning the accounting firm’s advice on its failed bid to launch the first Chinese incorporated bank in Australia.