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Greensill investor White Oak is not entitled to damages from IAG after it settled with broker Marsh in relation to $140 million in receivables, the insurer has told a trial court, saying it would amount to “double recovery”.
Insurer IAG has argued Greensill investor White Oak failed to verify the existence of $140 million in receivables for fear the deal wouldn't go ahead -- conduct, it says, that was “redolent of a deal that is too good to be true”.
Insurance underwriter Tokio Marine has denied misleading US investment firm White Oak by staying silent on alleged issues with an IAG policy keeping Greensill's supply chain financing business operating.
Construction PRO
China's state-run CITIC has lost an appeal bid to the High Court in its long-running battle with Clive Palmer over the $12 billion Sino Iron project in Western Australia.
A judge has approved a bid by the plaintiffs in a class action over the compulsory acquisition of land for Sydney’s $16 billion WestConnex to discontinue the case, after a breakdown in their relationship with the funder.
Construction PRO
A judge has approved a bid by the plaintiffs in a class action over the compulsory acquisition of land for Sydney’s $16 billion WestConnex to discontinue the case, after a breakdown in their relationship with the funder.
The Commonwealth has lost its bid to strike out and declass a class action on behalf of female Australian Defence Force employees who allegedly faced systemic harassment and discrimination.
The ATO has lost its appeal of a ruling that put it on the hook for $35 million after a judge found it received millions misappropriated by a former Kupang Resources director in order to satisfy a tax debt against him.
A hearing to replace the applicants in a class action over Sydney's $16 billion WestConnex project has been postponed a fourth time by an exasperated judge, who on Monday called out the absent litigation funder for being "grossly uncourteous".
Construction PRO
China’s largest state-run conglomerate CITIC has asked the High Court to hear its appeal in mega litigation with Clive Palmer’s Mineralogy over the $12 billion Sino Iron project in Western Australia.