The collapse of yet another Western Australian residential builder appears set to further upset the delicate state of the sector, with financiers, insurers, 350 trade creditors and as many as 130 home owners facing losses.
The Building Commission's Building Services Board has imposed conditions on two Diploma Group subsidiaries, limiting their ability to carry out work, after the parent company fell into the hands of administrators just before Christmas.
An Osborne Park-based building company and its nominated supervisor have been fined a combined $45,000 for negligent work that led to the roof of one house blowing off and another being badly damaged during a storm.
Padbury Mining has again attracted regulatory attention, with the company acknowledging it should have notified the ASX when it negotiated potential capital raisings worth $106 million with a Hong Kong-based investor last year.
The competition watchdog said today it planned to deny authorisation to a proposed partnership between Virgin Australia Holdings and Alliance Aviation Services because it would lessen competition in the West Australian market.
The 12-year old scandal over the Australian Wheat Board’s payments to the government of Iraq has moved closer to final resolution, with its former chairman Trevor Flugge convicted today of breaching his duties as a director but cleared of more serious charges concerning his knowledge of the payments.
Interior design firm Habitat1 has secured a Supreme Court injunction against its founder, Christian Formby, after he sought to transfer its domain name to a new company and set up a business called Habitat Interiors.
The auditor general says former transport minister Dean Nalder’s decision to withhold information from parliament about his proposed Max Light Rail project was unreasonable, as the details were already in the public domain.
The Environmental Protection Authority has recommended approval of Fortescue Metals Group’s proposed extension plans at its Solomon iron ore operations near Tom Price, subject to a number of strict conditions.
The Australian Securities and Investments Commission has launched civil proceedings against Perth-based State One Stockbroking, and in a separate matter has accepted undertakings from two liquidators employed by Melsom Robson.
The Australian Securities and Investments Commission has permanently banned a Perth man from providing financial services after finding he had redirected $254,000 worth of clients’ funds into his own accounts.
A former York real estate agent has lost his licence and his son is facing further penalties after the State Administrative Tribunal upheld allegations they pocketed $6 million from deceitful and misleading land deals.