Nuix has lodged an appeal of a ruling finding it owes $20 million before its insurers will cover its legal bills for lawsuits over its $1.8 billion float.
Nuix is on the hook for $20 million before its insurers will cover its legal bills for suits over its $1.8 billion float, with a judge saying there was a good reason for the significant retention given the “notorious” expense of securities class actions.
Japanese oil company Inpex has lost its bid for a split trial in a dispute with insurers AIG Australia and Mitsui Sumitomo over coverage for litigation related to defects at the $45 billion Ichthys liquified natural gas project in the Northern Territory.
The litigation funder controlled by recently deceased class action lawyer Mark Elliott has lost its bid for a 12.5 per cent commission of a $5.5 million settlement secured by the special purpose receivers of Banksia Securities in its claim against the collapsed firm’s former insurance broker.
A judge has directed solicitors for deceased lawyer and funder Mark Elliott to search for his missing mobile phone, which is wanted for potential evidence by a court-appointed contradictor investigating alleged professional misconduct on the part of the legal team behind a settled class action against failed Banksia Securities.