An investor class action has reached a settlement with four former directors of defunct Linchpin Capital, leaving only allegations against AIG Insurance, which is allegedly seeking to withdraw an admission that directors were insured under a D&O policy.
A senior barrister who represented Mayfair 101 founder James Mawhinney in mediation of two cases last year has been allowed to appear against him at a hearing in another dispute against a lender and two McGrathNicol receivers, but the silk won’t participate in settlement talks.
Construction company Richard Crookes plans to appeal a ruling which found the Security of Payment Act is available to insolvent builders to pursue debts under a deed of company arrangement, despite an amendment to the law preventing construction companies in liquidation from enforcing payment claims.
A liquidator for two related NSW printing companies has launched a High Court challenge to overturn a judgment finding a joint right to sue another business for $330,000 could not be combined in a pooling order.
In a landmark ruling, the NSW Supreme Court has found the Security of Payment Act is available to insolvent builders to pursue debts, despite an amendment to the law that prevents construction companies in liquidation from enforcing payment claims.
King & Wood Mallesons has denied the claims in a lawsuit by defunct stockbroker Halifax Investment Services alleging it failed to advise it of an obligation to hold client funds on trust, and has said another law firm should also take the blame if it is found negligent.
A class action accusing Virgin Australia of failing to disclose its true financial position in a 2019 prospectus for a $324 million capital raising is seeking to join a slew of the airline’s insurers to the case.
A third individual has been hit with criminal charges in relation to collapsed investment management fund Courtenay House, which ASIC alleges was run as a $180 million Ponzi scheme.
The former CEO of Big Un Limited has been hit with criminal charges and could face up to ten years in prison after he allegedly communicated inside information about the failed video company.
Clive Palmer’s Queensland Nickel and three other Palmer-related entities have been ordered to pay $44.5 million (US$30.8 million) to litigation funder Vannin Capital for defaulting on a loan for a private jet.