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Fired underwriter Greg Brereton has been granted an extension to respond to lawsuits targeting Insurance Australia Group over trade credit policies covering $4.6 billion in loans issued by collapsed Greensill Capital.
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.
Mitry Lawyers has won a discovery bid against a former client suing the Sydney law firm for $225,000 over alleged “neglect and incompetence.”
A long-running class action over the Opal Tower disaster has settled, along with two related cases over the defective building, as a five-week trial was set to begin.
The structural engineer behind Sydney's Opal Tower has taken builder Icon's insurers to court, arguing they should cover its costs in a class action brought on behalf of residents of the ill-fated building and related litigation.
A group of banks that failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse have been ordered to pay indemnity costs after a court found they rejected $10 million settlement offers three days into the trial.
Liberty Mutual Insurance does not have to indemnify dam operator Sunwater for its share of a $440 million settlement of the Queensland floods class action, the NSW Supreme Court has found.
The structural engineer behind Sydney's ill-fated Opal Tower can examine whether builder Icon Co has been indemnified for $31 million worth of damage which occurred in the 36-storey apartment block on Christmas Eve of 2018, a court has found.
Prefab concrete company Evolution Precast Systems failed to install reinforced concrete in Sydney's ill-fated Opal Tower and knew about a prior failure with one of the building's panels, engineer WSP Structures alleges in a cross-claim lobbed in a class action on behalf of residents of the tower.
Insurance Australia has been hit with a class action by business owners whose claims for business interruption losses caused by the COVID-19 pandemic have been denied.