Hong Kong-based UDP was entitled to $25 million from its insurers after losing more than $30 million from its disastrous acquisition of dairy conglomerate 5 Star Foods, which had been secretly overcharging one of its biggest customers, food giant Lion Nathan Group.
The plaintiffs in a farming class action brought against Advanta Seeds over allegedly contaminated sorghum have been denied access to the defendantâs insurance policy documents, after a judge found âsignificant differencesâ with a recently successful application in a class action against Radio Rentals.
QBE Underwriting has defended its decision to deny insurance coverage to the builder of Sydneyâs troubled Opal Tower development, claiming the cracking was not âmajorâ and did not cause last yearâs Christmas Eve evacuation.
The judge who presided over a rare securities class action trial last year against department store Myer will deliver judgment in the case this month that could be the first ruling on causation in Australian shareholder class actions and has the potential to have a chilling effect on law firms bringing the cases.
The High Court has shut down a lawsuit by mortgage aggregator Connective Services over the transfer of one third of the company’s shares after finding the proceeding prejudiced shareholders and contravened the Corporations Act.
The judge overseeing the long-running class action over allegedly faulty Ford PowerShift transmissions has told the applicants they might need to put up considerable cash security to cover the âwar and peace of discoveryâ disputes, after Ford slammed the delayed request for documents as âcomplete and utter nonsenseâ.
Gaming giant Aristocrat Technologies Australia can look over the tax returns of rival Konami Australia as the two companies prepare for next week’s hearing over how much Konami should pay in damages for patent infringement.
Ernst & Young, which is facing a lawsuit brought by the receiver of a fund overseen by failed financial services firm LM Investment Management, has lost its bid to file a claim for damages against LMIM, with a judge saying the auditor’s case was “flawed” and “counterintuitive”.
The judge overseeing a class action against mineral sands producer Iluka Resources has slammed the submissions from both sides over a bid for an extra $2.6 million in security for costs, calling them âcompletely out of controlâ and “totally out of proportionâ.
A landmark ruling has found judges have the power to order security against litigation funders backing Fair Work class actions, in a decision that could change the landscape of representative proceedings.