Henry Cooper

A class action against Meta over social media addiction will have to wait until a second prospective class action is lodged as planned, a court said Tuesday. 

Investment firm White Oak has settled its case against IAG, Tokio Marine and subsidiary BCC alleging the insurers were liable for $200 million in damages following the collapse of supply chain finance company Greensill.

The company that paid $60 million for bankrupt Jon Adgemis' Noah's Backpackers hotel in Bondi Beach has been ordered to cough up $6 million in GST refunds to a Singapore special purpose vehicle that arranged a loan for the purchase.

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. 

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. 

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.