The behaviour of the legal team running the Banksia Securities class action was “reprehensible” and the solicitor who allowed himself to be controlled by lawyer and funder Mark Elliott should be struck from the court’s roll of practitioners, a judge heard Tuesday.
A solicitor fighting to remain on the roll after his involvement in the infamous Banksia Securities class action has told of his regret at having lunch with the funder behind the case eight years ago — a meeting that set in motion a plot driven by lawyers to deceive seven Supreme Court judges and defraud thousands of investors.
Court-appointed receivers have told the court they should be trusted to determine the the best method for selling the Dover Heights mansion of Sydney fraudster Melissa Caddick, warning a public auction “could turn into a circus”.
The husband of Sydney fraudster Melissa Caddick will be vacating the couple’s harbour-view mansion as court-ordered receivers prepare to put it up for sale.
A judge has given the liquidators of Big Un the go-ahead to serve the director of the collapsed video company through his LinkedIn account after several unsuccessful attempts to contact him about proceedings accusing him and others of violating their directors’ duties.
A trial in a negligence case by a former solicitor and client of Sydney-based McCabes Lawyers has been vacated because of the firm’s non compliance with a court’s document discovery orders.
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 former Deloitte director accused of embezzling $3.1 million to fund lavish purchases, including an extensive art collection, has been referred to police and suspended by an association for Australian restructuring professionals.
A former Deloitte director accused of embezzling $3.1 million has agreed to court orders that he repay the money and hand over title to all assets — including almost 100 works of art — purchased with the alleged misappropriated funds.
NewSat investor Rockgold Holdings has lost its bid to appoint a special purpose liquidator to run a lawsuit against eight major banks after a judge found its proposed 70 per cent funding fee “wholly disproportionate”.