Measures to relax insolvency and bankruptcy laws to stem a possible wave of COVID-19 company collapses will not achieve their goal — and if Australia enters a European-style lockdown it won’t be a wave of insolvencies, it will be a tsunami, Lawyerly has been told.
A judge has criticised the parties in a land sale dispute over Sydney’s Parklea Markets for failing to make progress to bring the case to a close, almost three months after a $4.25 million judgment was awarded to a company owned by local retail personality Con Constantine.
Australian swimwear retailer Tigerlily has filed for voluntary administration, citing unfavourable conditions for retailers as the coronavirus pandemic shutters all but non-essential services in major states.
Companies under financial strain from measures to stop the spread of the coronavirus will get a reprieve from insolvency and bankruptcy laws as the Federal Government looks to stem a possible tide of company collapses.
A former Russells restructuring and insolvency lawyer has resolved a lawsuit alleging the firm tried to manufacture a reason to terminate his unemployment.
The ACCC has been given the go-ahead to continue its regulatory action against car rental company Australian 4WD Hire over allegedly threatening emails, three months after the firm went into voluntary liquidation.
A class action seeking almost $2 million in damages has been launched on behalf of Australian-Chinese investors against a Sydney law firm over advice on investment properties sold by the now collapsed developer Ralan Group.
A judge has set aside a liquidator’s bid for public examination of National Rugby League boss Todd Greenberg and another high-ranking officer, finding the summonses were an “abuse of process” and that the company behind them had entered into liquidation for the sole purpose of grilling the officials.
ASIC has notched up a win against derivative issuer AGM Markets and two of its authorised representatives, with a court finding they engaged in misleading, deceptive and unconscionable conduct that caused investor losses of over $30 million.
A former Maple Brown Abbott analyst has pleaded guilty to insider trading and communicating inside information in relation to $1.6 million in shares of collapsed video company Big Un.