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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.
US drug maker Cosette is appealing a judge’s decision not to disqualify himself from Mayne Pharma's lawsuit seeking damages over the termination of their $672 million if he is appointed to case manage the dispute.
US-based drug maker Cosette has lost its bid to stay proceedings alleging it induced the treasurer to reject its $672 million tie-up with Mayne Pharma, with a judge finding Mayne has a right to prosecute its case and would be prejudiced by the delay.
A judge has declined a funder’s bid for a $43 million payout in a class action accusing Colonial First State of charging excessive premiums, saying it was entitled to a 27.5 per cent commission but not $4.5 million for after-the-event insurance.
A judge has refused to disqualify himself from case managing Mayne Pharma's latest dispute with US drug maker Cosette over the collapse of their $672 million merger agreement, calling the bid “plainly premature”.
Insurer Marsh has successfully appealed a finding that it breached its obligation not to use documents discovered in litigation over the $7 billion collapse of supply chain finance firm Greensill in separate proceedings.
Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.
Construction PRO
A community group has lost a legal challenge to a 50-60 km underground pipeline that will connect Santos’ $3.6 billion Narrabri gas project to the Hunter gas pipeline.
Wealth manager Colonial First State Investments and insurer AIA have reached a $140 million settlement in a long-running class action alleging 700,000 superannuation members were charged inflated premiums on insurance products linked to former owner CBA.
The applicants in a case over strip searches conducted of female passengers on a Qatar Airways flight at Doha Airport want the airline to produce any communications with other planes, and to do so by month's end.