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The children of one of Australia’s wealthiest families are locked in a legal battle, with a judge preliminarily allowing the daughter to bring derivative proceedings against her brother for allegedly giving property developer Lendlease options to buy land owned by the trust for which she is a beneficiary for a “significant undervalue”.
A liquidator who ‘provoked litigation’ must personally pay the costs of the proceedings brought by a creditor of defunct company Azmac because of his ‘unreasonable’ handling of the company’s liquidation, a court has found.