Tokio Marine subsidiary Bond & Credit Company and fired underwriter Greg Brereton have been pulled into lawsuits targeting Insurance Australia Group over trade credit policies covering $4.6 billion in loans issued by the now collapsed Greensill Capital.
Legal bills sent to investment firm Keybridge Capital for work related to litigation from 2019 are governed by legislation that doesn’t require cost disclosures to sophisticated clients and can’t be reviewed, a court has heard.
The financial crimes watchdog has brought enforcement action against Crown Mebourne and Crown Perth for what it describe as widespread and serious non-compliance of anti-money laundering and counter terrorism laws.
The ACCC got what it wanted when IVF providers Virtus Health and Healius terminated a proposed $45 million merger, but it wasn’t a win, a judge has said in mostly denying the regulator’s bid to recover the costs of its court challenge to the deal.
The ATO has secured freezing orders on $220 million in capital gains tax arising from the $19 billion private equity sale by China’s State Grid of its substantial shareholding in energy infrastructure giant AusNet.
An appeal in a class action over Ford’s alleged defective Powershift transmission could blow out by a week, with the applicant filing a cross appeal in a case that comes down to three provisions of the Australian Consumer law given little or no attention by the Full Court.
A Credit Suisse supply chain fund that was left heavily exposed with the collapse of Greensill Capital alleges Insurance Australia Group owes $43 million under a policy indemnifying it for outstanding debt owed by the failed financing firm.
Logistics company GetSwift and its directors are appealing a win for ASIC in the regulator’s case that alleged they breached their continuous disclosure obligations and engaged in misleading and deceptive conduct in the release of 22 ASX announcements.
An appeals court challenge by a group of small businesses seeking coverage under business interruption insurance policies for losses flowing from COVID-19 restrictions has largely failed.
Insurance Australia Group has denied it owes Greensill Bank $48.5 million under a trade credit policy issued by its agent BCC, saying the underwriter was not authorised to enter into the policy.