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Two Deloitte reports commissioned by a Swiss law firm for Credit Suisse are protected by legal professional privilege despite access given to financial regulators investigating the collapse of supply chain financier Greensill.
A class action against CMC Markets has agreed to provide an additional $6.5 million in security, with the parties avoiding a contested hearing over the online trader's bid for $8.6 million.
Credit Suisse is fighting a bid for access to Deloitte reports commissioned by a Swiss law firm and advice from Linklaters, in litigation against insurers over the collapse of supply chain finance company Greensill Capital.
CMC Markets has avoided production of unredacted solicitors' invoices to support a bid for $8.6 million to cover costs in a class action, despite the applicant arguing the trading platform's legal team was "top-heavy” and the security application unprecedented.
Credit Suisse has dropped its claim for indemnity against insurance agent BCC under a trade credit policy issued prior to Greensill Capital’s collapse in 2021, with a judge hearing the admission marks a "complete u-turn in the case".
CMC Markets wants a class action to fork over $8.6 million more in security after substantially amending its case, which alleges the financial services firm issued complex, risky derivatives that were not appropriate for retail investors.
Insurers Marsh Limited and Insurance Australia Limited are seeking production of two reports by Deloitte commissioned by a Swiss law firm in litigation over the collapse of supply chain finance company Greensill Capital.
Insurance Australia Limited has settled $4 billion action brought by Germany's Greensill Bank and its administrator ahead of a six-month trial against the insurer and others over the failure of the trade financier.
The Commonwealth Bank has urged the High Court to uphold a ruling rejecting shareholders' damages claims in two class actions, saying the decision correctly rejected their "conflation of materiality with loss".
A class action against CMC Markets got the go-ahead Thursday to add new claims in its case centred on risky financial products, after trawling through 27,000 documents produced by the trading platform.