The Bank of Queensland has criticised a judgment which found the bank’s insurance policy left it on the hook for a $6 million settlement of a class action brought by investors in a multi-million dollar Ponzi scheme by jailed fraudster Bradley Sherwin.
Bank of Queensland has lost a dispute with two insurers over coverage for a $6 million settlement of a class action brought by investors in a Ponzi scheme by jailed scammer Bradley Sherwin, with a judge shooting down the bank’s argument that the class action should only be considered one claim under the policy.
A judge has expressed frustration at the slow pace of the Sydney light rail class action, forcing both parties to commit to a timetable that will push the proceeding more rapidly towards a final hearing.
The judge overseeing a class action filed on behalf of business owners over the Sydney light rail construction has cautioned the NSW government against filing a de-class motion, saying a class action may be the “very best thing” for the government.