A lawsuit seeking to increase D&O insurance for sandalwood producer Quintis in the wake of a class action settlement has fallen short of the $40 million in additional coverage sought, but a Federal Court decision may see a further $11.25 million go to group members.
Payouts in class actions in 2020 largely kept pace with the previous year despite the financial strain of the COVID-19 pandemic, with companies and other defendants paying more than $696 million to settle class actions last year.
Properties near seven air force bases where allegedly toxic firefighting foam was used experienced a drop in land value because of the “stigma” of contamination, according to an expert report accepted by the Federal Court in a class action seeking compensation from the Federal government.
A judge has signalled his intention to sign off on a $138 million settlement in a class action against IAG and approve a common fund order that gives the litigation funder a $34.5 million commission, but an application by the funder for reimbursement of after-the-event insurance has been refused.
The law firm behind a class action against German manufacturer 3A Composites over allegedly combustible cladding is seeking to add a new representative group member to cover the claims of owners of property with Alucobond panels.
Arnold Bloch Leibler has hit back at a class action by Slater & Gordon shareholders accusing it of misleading and deceptive conduct and breaching its duty of care by greenlighting the law firm’s $1.2 billion acquisition of Quindell, filing cross-claims against Slater & Gordon and two of its former directors.
A judge overseeing two class actions over allegedly flammable combustible cladding used in buildings throughout Australia says he will likely keep the trials separate to avoid a ‘behemoth’ hearing.
Convenience store chain 7-Eleven has asked the High Court to find courts do not have the power to make common fund orders at settlement or judgment in a class action, one year after the High Court ruled common fund orders could not be made in the early part of a representative proceeding.
A bid by the applicant to restrict a securities class action against recycling company Sims Metal Management to shareholders who have registered to join the case has been shot down by a judge, who said the application was not in the interests of justice but “in the interests of injustice”.
The states of Victoria and Queensland have joined two class actions over allegedly combustible cladding as group members, with the claims in the proceedings now exceeding $500 million.