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The law firm and funder behind a class action against collapsed engineering and construction company Forge Group, former directors and their insurers, which has now settled for $16.5 million, have proposed cuts that would see $8.25 million left over for distribution to group members.
QBE Underwriting has defended its decision to deny insurance coverage to the builder of Sydney’s troubled Opal Tower development, claiming the cracking was not “major” and did not cause last year’s Christmas Eve evacuation.
The defendants in the Sydney Opal Tower class action have been formally banned from contacting represented group members about their claims while the proceeding remains on foot, after communications were allegedly sent to apartment owners.
The NSW government's Sydney Olympic Park Authority, which is facing a class action brought by owners of apartments at the troubled Opal Tower, has laid the blame on the developer, designer and builder behind the project.
Two units of global insurer Lloyd's have launched a constitutional challenge to a Federal Court order requiring accounting firm Pitcher Partners to hand over certain insurance documents in two shareholder class actions.
A judge has promised the parties in the Sydney Opal Tower class action that the matter will be “resolved expeditiously”, despite the plaintiff’s concerns that cross-claims by the defendant and procedural timeframes will cause delays.
An appeals court has found insurers AIG Australia and Catlin Australia have to cover part of a $6 million settlement agreed to by Bank of Queensland last year in a class action brought by investors in a multimillion dollar Ponzi scheme by jailed fraudster Bradley Sherwin.
A judge has signed off on the walkaway settlement reached in one of four St Patrick’s Day bushfire class actions filed by Maddens Lawyers, noting that the plaintiff faced a “very real risk of not succeeding” in some of its primary claims.
Collapsed engineering and construction company Forge Group has agreed to settle a shareholder class action over alleged continuous disclosure breaches, which will see the funder pocket about $7.5 million.
A settlement has been reached in the second of four St Patrick’s Day bushfire class actions filed by Maddens Lawyers, under which energy distributor PowerCor will be released of any liability and group members will walk away with nothing.