The litigation funder backing two combustible cladding class actions has sold a third of its investment in the cases to a player in the nascent secondary market for class action financing.
A long-running class action over the Opal Tower disaster has settled, along with two related cases over the defective building, as a five-week trial was set to begin.
Moray & Agnew is facing a lawsuit by a former client who says the firm breached its duties by making an unauthorised $3.3 million transfer while representing him on an investment in a Melbourne storage facility development.
The structural engineer behind Sydney’s Opal Tower has taken builder Icon’s insurers to court, arguing they should cover its costs in a class action brought on behalf of residents of the ill-fated building and related litigation.
Lloyd’s has won access to letters between Moray & Agnew and an insurer to test its claims that a $3.7 million settlement the law firm agreed to over the sale of apartments at a $105 million South Yarra complex developed by millionaire Harry Stamoulis was excessive and made to protect the firm’s reputation.
A Lloyd’s syndicate has hit back at a lawsuit by Moray & Agnew, saying it did not have to cover part of a $3.7 million settlement between the law firm and a Melbourne property developer because the amount agreed to was “excessive”.
Macpherson Kelley will head to an eleventh-hour mediation in a negligence case over the execution of a 10-year service station lease agreement with Shell, after the court heard settlement talks were well progressed.
Macpherson Kelley is headed for trial next week in a case that alleges the law firm bungled the execution of a 10-year lease agreement with Shell for a service station in Melbourne, giving the energy giant an extra 320 square metres equating to $2.5 million in lost rent for its landlord client.
Salter Brothers’ multmillion dollar investment in advisory firm Hendry Group is worthless, a court has been told in the fund manager’s case alleging it was the victim of miseleading representations.
A class action against failed Fairview Architectural over alleged combustible cladding hangs in the balance as a court sets the stage for a fight with insurer Vero over a $190 million policy.