A class action has been filed against a NSW state government-controlled entity over Sydney’s scandal-plagued Opal Tower, in a claim that is expected to seek millions of dollars of compensation on behalf of hundreds of apartment owners.
Collapsed engineering and construction company Forge Group has agreed to settle a shareholder class action over alleged continuous disclosure breaches, which will see the funder pocket about $7.5 million.
Construction giant Lendlease faces a second shareholder class action over market disclosures relating to its underperforming engineering division, and joining the case is one of the biggest public pension funds in the US.
Two construction companies have lost what a court has called a “puzzling” bid to oust the liquidators of collapsed FW Projects amidst a legal battle in the NSW Supreme Court over the property developer’s remaining assets.
Two former executives of Hastie Services have been cleared of criminal charges that they engaged in a conspiracy to falsify the company’s accounts, with a judge ordering the jury to enter verdicts of not guilty on all charges.
German-based cladding manufacturer 3A Composites has foreshadowed potential cross claims against third party engineers and certifiers in one of two class actions brought over allegedly dangerous combustible cladding used in countless buildings across Australia.
Landowners above the Sydney Metro underground tunnel will be allowed to claim compensation before construction is complete, with a court also preparing to consider potential compensation for any reduced development potential.
The Commonwealth has agreed to fund a public examination into the affairs of collapsed Queensland-based construction group JM Kelly, after liquidators uncovered a complicated web of inter-company loans.
The Fair Work Commission has dismissed an appeal by the Construction, Forestry, Maritime, Mining and Energy Union challenging a decision by a commissioner to not recuse herself from hearing a construction site dispute with Watpac after commenting that the union’s complaint about safety concerns at the site appeared to be a “smokebomb”.
The former chief executive officer of Hastie Services has admitted to asking staff to make up for a shortfall between forecast and actual profits at the firm, but claims he made the order with the expectation it would be done legally, the jury hearing a criminal case against him was told.