Liberty Mutual Insurance does not have to indemnify dam operator Sunwater for its share of a $440 million settlement of the Queensland floods class action, the NSW Supreme Court has found.
In rejecting a bid by The Star Entertainment Group to recoup losses stemming from the COVID-19 pandemic, the Federal Court’s Chief Justice did “real and unexplained violence” to the construction of a business interruption policy the casino giant had taken out with Chubb, the Full Court has heard.
A judge has given the green light to amended pleadings in a class action accusing major banks of entering a cartel agreement to rig foreign exchange rates, bringing a two-year fight over the pleadings closer to resolution.
Crown Resorts has avoided having its casino licence stripped, for now, with a Victorian Royal Commission giving the casino operator two years to clean up its act after finding it failed to prevent “illegal, dishonest, unethical and exploitative” conduct.
A Federal Court judge has taken a swipe at new regulations that require class action funding arrangements to be registered as managed investment schemes, saying it was difficult to reconcile the new rules with the class action regime.
Insurance giant Lloyd’s has rejected what it calls an “incomprehensible” class action pleading by Australian businesses that argue its business interruption policies should have indemnified them for losses stemming from COVID-19 lockdowns.
Worleyâs increases to a budget behind an allegedly misleading 2014 earning guidance, amounting to $1.14 million, were a âdrop in the oceanâ, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.
Worley crafted the budget behind an allegedly misleading 2014 earnings guidance so that its shares could be rated as a âgrowth stockâ, the Full Court has heard as shareholders seek to revive a failed class action against the engineering company.
The Star Entertainment Group will not be able to recoup losses at its casinos and hotels stemming from the COVID-19 pandemic, after a judge found the company’s $4 billion industrial special risks policy did not cover financial losses from government-imposed restrictions.
The funder backing a class action accusing two energy generators of gaming Queensland’s energy prices wants the Full Court to find the landmark Brookfield Multiplex ruling, which held that a litigation funding arrangement for a class action was a managed investment scheme, was wrongly decided.