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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.
It ditched a planned $627 million union, now US drug maker Cosette must pay more than $13 million toward Mayne Pharma's costs of the legal fallout. Whether it owes the "substantial damages" Mayne is claiming is an issue for another day.
IAG is fighting a shareholder class action's bid to amend against the case to include a new damages claim, telling the court the insurer already understands the case against it.
Construction PRO
A judge has granted Hassall Developments' bid to join insurance broker Arthur J. Gallagher to a lawsuit against QBE over an $80 million special risks policy after “serious defects” were allegedly found in its Imperial Towers development in Parramatta.
Three years after filing, the class actions against Hyundai and Kia are trying to pinpoint the defect at the heart of the cases, with the car manufacturers complaining that the newest pleading, which seeks to expand the claims to include an additional 380,000 vehicles, is still missing key details.
The prevailing applicants in a contest to run class actions against Hyundai and Kia want all their costs of the beauty parade against the plaintiffs and funders of the failed cases, arguing the whole of their outlay was unnecessary.
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.
Construction PRO
Defunct telecommunication company NewSat has until 7 April to pay security for defence costs in a case against a group of lenders that withdrew financial support for the company's satellite project.
A new class action has been launched on behalf of over 10,000 Chevrolet Silverado owners, following a global recall of the utes by General Motors.