A judge has found collapsed education provider Phoenix Institute acted unconscionably and with “callous indifference” by enticing vulnerable consumers to enrol in unsuitable courses with promises of free laptops.
A Federal Court judge has criticised the liquidators of coal mining company Delta for waiting over two years to file insolvent trading proceedings against former directors when the same issues of solvency had already been raised in two other cases.
The joint managers of Clive Palmer’s Queensland Nickel refinery have been ordered to pay $26.6 million for natural gas charges owed, after a court rejected claims they did not need to repay the money because pipeline owners had breached their duties.
Sydney’s ongoing COVID-19 lockdown has created “logistical” difficulties delaying the release of a long awaited judgment in the ACCC’s consumer law case against collapsed private college Phoenix Institute, which was accused of misleading students through the marketing of its courses.
A litigation funder is suing a Sydney property developer over a $14.8 million debt stemming from a cause of action it acquired from the liquidators of the collapsed project manager behind the firm’s real estate projects.
Greensill Capital likely became insolvent on March 2, seven days before the Queensland-based financial services firm appointed administrators, the company’s liquidators have revealed.
A judge has issued an ultimatum to Forum Finance director Bill Papas for his “entirely unsatisfactory” conduct in failing to provide details of personal assets while defending three lawsuits that accuse him of being behind a $400 million fraud.
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.
Clive Palmer will seek special leave from the High Court to appeal a ruling from the Queensland Court of Appeal ordering him to return $102 million borrowed before the collapse of Queensland Nickel in 2016, and has demanded that the company’s liquidators return the money he paid following the ruling.
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.