A class action brought by investors of failed advisory firm Linchpin has reached a settlement with insurer AIG — the last remaining defendant in the case.
An investor class action against failed advisory firm Linchpin Capital and its former directors has won its bid to claim its losses against a $10 million insurance policy from AIG.
The High Court has declined to grant special leave to a former HWL Ebsworth client seeking to revive a decision that found the law firm’s bad advice over property in Parramatta’s ‘Auto Alley’ cost it $2 million.
HWL Ebsworth has won indemnity costs against a former client who alleged the firm gave negligent advice over property in Parramatta’s ‘Auto Alley’, with a court saying the client was the “author of the outcome about which it complains” by rejecting a $1.35 million settlement offer.
G&S Engineering and its parent company, DRA Global, can redact what a court has found is privileged information provided in a witness statement by a former top executive, in the latest interlocutory stoush ahead of trial in a high stakes dispute with MACH Energy.
The High Court has been asked to weigh in on whether a client needs to prove it could have exploited a lost commercial right in order to prevail in a law firm negligence case, after HWL Ebsworth successfully appealed a decision that found its bad advice over property in Parramatta’s ‘Auto Alley’ cost a client $2 million.
Law firm HWL Ebsworth has successfully appealed a decision finding that its negligent advice over property in Paramatta’s ‘Auto Alley’ cost a client $2 million, with an appeals court finding the commercial opportunity lost by the client had no value.
A judge has ruled that HWL Ebsworth’s negligent advice over property in Paramatta’s ‘Auto Alley’ cost a client $2 million, rejecting the firm’s plea of contributory negligence against the owner.
HWL Ebsworth has admitted it gave a client negligent advice over property in Paramatta’s ‘Auto Alley’ but said the owner’s alleged $3.5 million loss was not caused by the law firm’s mis-step in a transaction with companies linked to the defunct Dyldam Developments.
A judge has approved a settlement with former directors of collapsed advisory firm Linchpin Capital under which insurer RiverStone will pay $6.3 million, which will be used to fund the investor class action’s claims against AIG.