A judge has awarded $43 million to National Australia Bank in its lawsuit against former directors of failed retailer Dick Smith, but threw out claims against company directors brought by HSBC and the retailer’s receivers.
The judge overseeing a conflicted remuneration class action against Suncorp has locked in a trial date for May next year over the protests of the applicants, saying it was “not a good look” for class actions to “hang” around.
A group representing insurers has filed another test case over pandemic coverage in business interruption policies, following a landmark loss in a test case concerning an infectious disease exclusion that could cost insurers $10 billion.
The Full Federal Court has granted a limited appeal in the Kingdom of Spain’s challenge to a judgment enforcing a $375 million arbitration award over two renewable energy investments, ordering a redrafting of the primary judge’s orders but rejecting claims that Spain was immune as a foreign state from enforcement of the award.
The Insurance Council of Australia has asked the High Court to weigh in on its case against COVID-19 related claims in business interruption policies, following its high stakes loss in a ruling last month that found an infectious disease exclusion did not apply.
A judge has criticised a revised opt out notice in a class action against Suncorp over allegedly conflicted remuneration and again slammed the funder backing the case for sending a “disturbing” letter to group members contrived to achieve a commercial advantage.
A judge overseeing a class action against Suncorp over alleged conflicted remuneration has questioned a proposed opt out notice telling group members they should sign up with the funder backing the case or it might not proceed.
Virgin Australia unsecured bondholders contesting the sale of the embattled airline to private equity firm Bain Capital have failed in their bid to access confidential transaction documents, but a judge has urged the administrators to communicate with the frustrated creditors.
A private investment fund has failed again in its bid for damages from collapsed global advisory firm Babcock & Brown over a botched $1.4B acquisition of a US-based laundry equipment provider.
A court has upheld two decisions by the Australian Government Takeovers Panel that a bid by asset manager Aurora Funds Management to replace Molopo Energy’s directors was made in “unacceptable circumstances”.