Councils to sue Standard & Poors in new action

By Julian Bajkowski Australian councils burned by toxic investments in collateralised debt obligations (CDOs) from collapsed bank Lehman Bros. have escalated their legal action and will try and rope-in ratings agency Standard & Poors in their bid to recover losses of around $200 million. Litigation funder IMF said on Tuesday afternoon that it will file […]

Lehman Brothers, Grange liable for council sub-prime losses

By Julian Bajkowski Local governments, charities and and not for profit groups have finally won a phyrric victory over collapsed US investment bank Lehman Brothers, after the Federal Court ruled that the institution is ultimately liable for almost $250 million in losses suffered by investors. Handed down by Justice Steven Rares on Friday, the decision […]

Designers wanted for radioactive dump

By Julian Bajkowski The federal government has wasted no time in pushing ahead with its plans to build a highly controversial radioactive waste dump in Australia, issuing a tender for a consultant to design the new facility.   The Department of Resources, Energy and Tourism (DRET) has asked for bids to provide a report that […]

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