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Herbert Smith Freehills gives staff 5% bonus
Business of Law 2021-03-09 1:03 pm By Cindy Cameronne

All Herbert Smith Freehills staff worldwide will receive a five per cent bonus in March, in addition to their usual yearly bonuses, due to the law firm’s strong performance so far this year.

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Herbert Smith Freehills says Arrium lenders ‘a million miles away’ from properly run case
Restructuring & Insolvency 2021-03-04 6:54 pm By Miklos Bolza

Law firm Herbert Smith Freehills has attacked a lawsuit brought by a group of lenders against collapsed steel giant Arrium, rejecting claims that $430 million in loans was borrowed under misleading or deceptive representations.

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Andrews government to seek quick end to COVID-19 class actions
COVID-19 2021-03-04 11:32 am By Christine Caulfield

The Victorian government will argue for summary dismissal of two class actions filed over the bungled COVID-19 hotel quarantine program said to be responsible for the state’s second pandemic wave last year.

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Law firms await beauty tips as High Court set to rule on competing class actions
High Court 2021-03-03 10:43 pm By Christine Caulfield

The High Court has set a date for handing down its keenly anticipated judgment in a case that challenged the winner of a beauty contest of class actions against AMP, a decision expected to offer guidance on how courts should tackle the so-called multiplicity problem.

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Former Arrium group treasurer rejects liquidators’ ‘infected’ insolvency case
Restructuring & Insolvency 2021-03-03 6:16 pm By Miklos Bolza

The former group treasurer of collapsed steel giant Arrium has hit back at claims brought by the company’s liquidators that it was trading while insolvent, arguing the case had been ‘infected’ by evidence from an expert who was also a plaintiff in the case.

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Court won’t save Greensill from ‘catastrophic’ expiry of $4.6B insurance policy
Insurance 2021-03-02 11:27 pm By Christine Caulfield

Embattled financial services firm Greensill Capital has lost an emergency bid for a temporary mandatory injunction that would have forced its insurer to renew trade credit policies covering $4.6 billion in client loans as it fights to avoid collapse.

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Herbert Smith Freehills warned Arrium of insolvent trading risk, court told
Restructuring & Insolvency 2021-03-02 5:43 pm By Miklos Bolza

Doomed iron and steel giant Arrium attempted to stave off its inevitable $2.8 billion collapse and put off negotiating with its lenders until the last minute despite warnings from its legal and financial advisors, liquidators for the company told the court.

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Arrium ‘bled cash’ from banks prior to $2.8B collapse, court told
Restructuring & Insolvency 2021-03-01 3:04 pm By Miklos Bolza

Directors of steel producer Arrium continued to borrow money from “vulnerable” lenders in the months prior to the company’s $2.8 billion collapse and “bled cash” despite the inevitable end, a number of lenders have said on the first day of a 40-day trial in the NSW Supreme Court.

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Herbert Smith Freehills advice to Horizon Oil protected by privilege, judge rules
Defamation 2021-02-24 4:58 pm By Cindy Cameronne

Horizon Oil has won its bid to shield Herbert Smith Freehills documents advising the company did not breach foreign bribery laws from being revealed in a defamation lawsuit brought against Fairfax Media by a Papua New Guinea government Minister.

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Murray Goulburn insurer says it shouldn’t be on the hook for class action settlement
Insurance 2021-02-23 3:06 pm By Spencer Fowler Steen

Murray Goulburn insurer AIG Australia says it should not have to pay 20 per cent of a $42 million class action settlement reached by the dairy cooperative, arguing on Tuesday that the class action claims failed to satisfy the definition of a “securities claim” in its insurance policy.

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