QBE Underwriting has defended its decision to deny insurance coverage to the builder of Sydney’s troubled Opal Tower development, claiming the cracking was not “major” and did not cause last year’s Christmas Eve evacuation.
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 “war and peace of discovery” disputes, after Ford slammed the delayed request for documents as “complete and utter nonsense”.
Three former directors of billion-dollar financial advisory firm Linchpin Capital Group will face two days of questioning in examination proceedings filed on behalf of an investor five months after the company was wound up for running an unregistered investment scheme and misleading investors.
ASIC and other government regulators bringing enforcement action in the docket of one Federal Court judge must abide by a strict new protocol to prevent a repeat of the corporate watchdog’s “wait and see” strategy in a case against ex-Murray Goulburn directors that came close, the judge said, to bringing the administration of justice into disrepute.
A judge has refused a bid by two former Murray Goulburn executives to throw out a disqualification case brought by the Australian Securities and Investments Commission, despite admonishing the corporate regulator for its delay in bringing the case and establishing a protocol for regulators filing cases in his docket.
The plaintiffs in an investor class action filed against Dick Smith’s insurers want a separate hearing from four other representative and company proceedings against the failed electronics retailer, arguing there would be only the “thinnest basis” for concurrent proceedings if their strike out application was successful.
The defendants in the Sydney Opal Tower class action have been formally banned from contacting represented group members about their claims while the proceeding remains on foot, after communications were allegedly sent to apartment owners.
Former Dick Smith executives Nick Abboud and Michael Potts have pointed the finger at the defunct electronics retailer’s other directors in response to cross claims by auditor Deloitte, which is named in two shareholder class actions over the company’s collapse.
The NSW government’s Sydney Olympic Park Authority, which is facing a class action brought by owners of apartments at the troubled Opal Tower, has laid the blame on the developer, designer and builder behind the project.
Global solar panel manufacturer Hanwha Q CELLS wants to amend the patent behind its solar technology, more than six months after launching infringement proceedings against three rivals.