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PricewaterhouseCoopers has lost its bid to shut down a class action launched by bondholders of collapsed asset finance lender Axsesstoday Limited over alleged misrepresentations in a $50 million bond offer.
The High Court has rejected a bid by a group of insurers to weigh in on a test case against COVID-19 related claims in business interruption policies, following a high stakes loss in the NSW Court of Appeal, which found an infectious disease exclusion did not apply.
A judge has awarded $43 million to National Australia Bank in its lawsuit against former directors of failed retailer Dick Smith, but threw out claims against company directors brought by HSBC and the retailer's receivers.
The judge overseeing a conflicted remuneration class action against Suncorp has locked in a trial date for May next year over the protests of the applicants, saying it was "not a good look" for class actions to "hang" around.
A group representing insurers has filed another test case over pandemic coverage in business interruption policies, following a landmark loss in a test case concerning an infectious disease exclusion that could cost insurers $10 billion.
The Full Federal Court has granted a limited appeal in the Kingdom of Spain's challenge to a judgment enforcing a $375 million arbitration award over two renewable energy investments, ordering a redrafting of the primary judge's orders but rejecting claims that Spain was immune as a foreign state from enforcement of the award.
The Insurance Council of Australia has asked the High Court to weigh in on its case against COVID-19 related claims in business interruption policies, following its high stakes loss in a ruling last month that found an infectious disease exclusion did not apply.
A judge has criticised a revised opt out notice in a class action against Suncorp over allegedly conflicted remuneration and again slammed the funder backing the case for sending a "disturbing" letter to group members contrived to achieve a commercial advantage.
A judge overseeing a class action against Suncorp over alleged conflicted remuneration has questioned a proposed opt out notice telling group members they should sign up with the funder backing the case or it might not proceed.
Virgin Australia unsecured bondholders contesting the sale of the embattled airline to private equity firm Bain Capital have failed in their bid to access confidential transaction documents, but a judge has urged the administrators to communicate with the frustrated creditors.