Facing a claim to cover the legal costs of former Orix CEO John Carter under a D&O policy, Chubb has been given the green light to argue that Coca-Cola Amatil’s board had no knowledge of alleged secret bribes.
A judge has approved a confidential settlement in a class action on behalf of 383 apartment owners in Sydney’s Opal Tower but slashed the amount sought by the funder.
The litigation funder bankrolling a class action on behalf of 383 apartment owners in Sydney’s troubled Opal Tower is seeking a 26 per cent commission totalling $13.2 million of the confidential settlement sum, a court has heard.
The sacked boss of Orix Australia — who escaped charges of corruption three years ago — has settled a dispute with his former employer, including a claim by the fleet management company for $18 million in damages.
A $13 million commission sought by the funder that bankrolled the Opal Tower class action is stalling settlement approval, as debate continues over whether the funder can recoup the costs of after-the-event insurance from group members.
The sacked CEO of Orix Australia has abandoned his challenge to a ruling allowing a set-off defence for the fleet management company in his case for unpaid leave entitlements and penalties.
A judge has ruled that oil company Inpex can call on a $467 million bank guarantee in its contract battle with Korean shipbuilder Daewoo over the contentious Ichthys LNG project off the coast of Western Australia.
A judge has ruled that separate breaches of statutory building warranties do not create individual causes of action, in a win for an owners corporation bringing claims against the builder of an allegedly defective Haymarket apartment building.
The sacked boss of fleet management Orix Australia, who is seeking $1 million in unpaid leave, wants to challenge a decision allowing the company’s defence that anything it owes is set off by the losses the former CEO allegedly caused.
Although the settlement sum has not been disclosed, court documents in the Opal Tower class action reveal the litigation funder backing the case will seek $13.2 million in commission when the parties appear before the court later this year.