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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”.
Construction PRO
Optus has won an appeal against a council's decision to refuse its plan to build a telecommunications tower in Killcare Heights on NSW's Central Coast.
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.
Arrotex has hit back at a lawsuit by the maker of Maltofer iron supplements, filing a cross-claim alleging its rival’s advertising was false because it conveyed its product was superior to Ferro-grad C.
Toyota has agreed to pay $750 million to settle two class actions over defective diesel filters following a significant win in the High Court over the calculation of damages, the biggest settlement in Australia's class action history.
Construction PRO
A judge has held that the former environment minister's finding that part of the McPhillamy's gold mine was heritage protected was invalid.
A judge has panned a claim that details about a $750 million class action settlement by Toyota might cause "stress and anxiety", in a decision that reveals how much drivers can expect on average from the record sum.
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.