By Julian Bajkowski The New South Wales government has launched a spring offensive on accidental drownings and will introduce new laws that more strictly regulate safety compliance for an estimated 340,000 backyard pools in the state. Local Government Minister Don Page has announced that the O’Farrell government will now compel home-owners to place their pools […]
14 September, 2012
Grange Securities, the Australian arm of failed investment bank Lehman Brothers bought collateralised debt obligations (CDOs) for councils even though they advised the firm not to, the Federal Court has heard. Class action against the investment bank began on Wednesday. It included 72 councils, charities and schools, led by Wingecarribee Shire Council, the City of […]
3 March, 2011
Michael Cole. Image: Hugh O’Brien. By Angela Dorizas Councils that claimed to be in accordance with state legislation when investing in CDOs ignored their fiduciary responsibilities, the author of the Cole Report has said. In a keynote address to the Government News Local Government Investment Conference, the author of the 2008 inquiry into council investments, […]
10 March, 2010
By Angela Dorizas A ruling by the Federal Court has cleared the way for councils to pursue legal action against collapsed US investment bank Lehman Brothers. The Federal Court found against the validity of a Deed of Company Arrangement (DOCA) put forward by the administrators PPB and Lehman Brothers Asia, which had prevented 38 councils […]
1 October, 2009End of content
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