Clyde & Co.

The funder behind a class action against the operator of Gladstone Port has bowed out after spending $30 million on the case, and is weighing proceedings to recover its sunk costs from the law firm that initially ran the litigation.

Nuix has lodged an appeal of a ruling finding it owes $20 million before its insurers will cover its legal bills for lawsuits over its $1.8 billion float.

Nuix is on the hook for $20 million before its insurers will cover its legal bills for suits over its $1.8 billion float, with a judge saying there was a good reason for the significant retention given the “notorious” expense of securities class actions.

The construction and infrastructure sector is seeing a growing demand for professional indemnity specialists in the wake of increased government investment over the last ten years and rising complexities around insurance policies, a Clyde & Co partner has told Lawyerly. 

Carnival has lost an appeal of a finding in a class action that it was negligent in preventing a COVID-19 outbreak aboard the Ruby Princess cruise ship, but an appeal by the applicant over damages has also failed. 

The co-owners of the Pacific Werribee shopping centre in Victoria are seeking to join collapsed builder Probuild’s primary insurer AIG and several excess insurers to their case over $356 million in alleged defects.

A magistrate has cleared a Tasmanian jumping castle operator of criminal wrongdoing for her alleged role in a tragedy that killed six children in 2021, but a related class action against her and the state government will continue. 

Parkview Constructions has reached a settlement in an owners corporation’s lawsuit over allegedly combustible cladding at the Australia Towers in Sydney Olympic Park.

The owners corporation suing Parkview Construction over alleged combustible cladding at the Australia Towers in Sydney Olympic Park is “hopeful” of a settlement being reached, a court has heard on the eve of trial.

A bid by the parties for the court to determine legal costs in a successful case over the $55 million sale of a Queensland shopping centre has left a judge scratching his head.