Rare High Court judgment against 'misguided' developer

Lawyers are warning liquidators not to get too excited over a "rare" High Court decision.

Associate Judge John Matthews recently awarded PwC liquidators more than $800,000 in a summary judgment against James “Andrew” Fawcet for breaching his director’s duties.

The liquidators claimed the developer breached the Companies Act when he transferred the titles of two properties owned by Luxta to another company, Contorto, in which he is also director, without full payment.

 

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