Peter Braham

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. 

After baulking at paying for their Rolls-Royce defence, Greensill investor White Oak has been ordered to pay a total of $13 million in security to insurers IAG, Tokio Marine and BCC for their costs of a 35-day trial.

Greensill Capital's founder expressed "shock" in 2020 when concerns emerged over the validity of an IAG policy keeping his financing business afloat, telling underwriter BCC's then managing director the issue needed to be kept quiet, a court has heard.

IAG and Tokio Marine kept their concerns about the validity of Greensill Capital's 2019 trade credit insurance policy confidential, even as they must have known the supply chain financier was using the policy to attract investors, a trial court has heard.

Investor White Oak on Tuesday fought back against a push by IAG and Tokio Marine for over $15 million in security on the eve of trial in its case over the collapse of Greensill Capital, saying the insurers' Rolls Royce approach was unreasonable now that the bulk of the $7 billion litigation had settled.

A Rawson Group unit has successfully argued that it was entitled to rescind an option deed to buy land in the Southern Highlands of NSW after the soil was classified as a “problem” that posed real risks of increased building costs.

A group of insurers can't join Northwest Rail Link joint venture partners MTR and UGL to a suit by CPB Contractors and John Holland over a $100 million policy, with a judge saying the joint venture’s interests in the case are commercial rather than legal. 

Northwest Rail Link builders CPB Contractors and John Holland are pushing back against a bid by several insurers to join joint venture partners MTR and UGL to a coverage spat over a $100 million policy. 

A judge won't schedule an initial trial on the limitations period in a $150 million coverage spat between insurers and Northwest Rail Link builders CPB Contractors and John Holland.