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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”.
Trading platform Plus500 has taken its challenge to an investor class action to the High Court, after an appeals court upheld a finding that an arbitration clause in its terms and conditions was unfair.
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.
The Australian Energy Regulator has brought a High Court challenge to orders that it return a $25 million penalty paid by power company AGL for overcharging hundreds of customers receiving Centrelink payments.
The Full Court has rejected trading platform Plus500's bid to stay a class action by investors who lost money on highly leveraged contracts for difference in light of an arbitration clause in its terms and conditions, upholding a finding that the clause was an unfair contract term.
A judge has suggested an expert should access Tesla’s "highly, highly confidential" internal live systems amid complaints by a class action that the car maker's discovery of technical documents is inadequate.
The Australian Energy Regulator must repay AGL a $25 million penalty secured by the watchdog in a Federal Court case, after the power company prevailed on appeal.
People don't read terms and conditions when signing up to online services, an appeals court judge has told trading platform Plus500, which says the applicant in a class action is bound by an arbitration clause in its user contract.
A judge has approved a $120 million settlement in a class action against AMP that followed the banking royal commission, saying while it was a “very disappointing outcome” for group members it was still fair and reasonable.