The prefab concrete specialist behind Sydney’s Opal Tower has appealed a ruling letting its insurers off the hook to pay costs in advance incurred in defending cross-claims in two lawsuits over the ill-fated tower.
The prefab concrete specialist behind Sydney’s Opal Tower has lost a courtroom bid to have its insurer pay costs in advance incurred in defending cross-claims in two lawsuits over the ill-fated tower.
Insurers of sandalwood producer Quintis have told a court that a rectification suit brought by the applicants in two class actions seeking to increase D&O coverage by $40 million, “makes no sense”.
Insurance policies that may be worth up to $46 million and have derailed settlement approval in two class actions against sandalwood producer Quintis were “cobbled together” and contained errors and omissions, a court has heard.
A judge has rejected a proposed common fund order in the settled KPMG class action, saying the funder’s commission was “arguably excessive” and could result in a “stratospheric” return to the firm.
A judge has refused to approve Piper Alderman’s $3.5 million in legal fees charged for running a class action against KPMG, appointing Grant Thornton as contradictor and giving the auditor the ability to seek assistance from the court for any future disputes about the controversial bill.