AIG has settled a lawsuit brought by Kaboko Mining against several former directors alleging they failed to exploit commercial opportunities, after the insurer failed to convince an appeals court that an insolvency exclusion in the company’s D&O policy should exempt it from covering the claims.
A Sydney lawyer has lost her bid to vacate an upcoming hearing in her appeal of a judge’s finding that investors who sank $12.3 million into a fraudulent sports betting scheme run by convicted conman Peter Foster lost money because of her failure to come forward with the truth.
A judge has sided in part with QBE Insurance and pared back a class action over allegedly worthless add-on insurance sold by ANZ to credit card and personal loan customers.
A judge has shot down Monster Energy’s opposition to Japanese software company Mixi registering the ‘Monster Strike’ trade mark in Australia for its popular video game of the same name, the second judge to find the energy drink maker’s standalone ‘Monster’ mark does not have a significant reputation in Australia.
A judge has dismissed a lawsuit brought by Arnold Bloch Leibler seeking to use information from its legal work on Slater & Gordon’s $1.2 billion acquisition of UK firm Quindell to defend itself in a class action brought by the plaintiffs firm’s shareholders.
A judge has slapped National Australia Bank with a $15 million penalty over its scandal-ridden home loan introducer program but slammed ASIC’s investigation into the program, saying there was no “real regulatory desire to pursue a thorough investigation as to what in truth occurred”.
Universal Music has accused Clive Palmer of “burning, notorious” copyright infringement by using a rewritten version of Twisted Sister’s smash hit We’re Not Gonna Take It in a series of “grating and annoying” political ads.
Making good on its promise to crack down on anti-competitive conduct in the commercial construction sector, the ACCC has initiated proceedings against NQ Cranes alleging the crane company entered an agreement with a competitor to divvy up the market for overhead crane parts and servicing in Brisbane and Newcastle.
The state of Western Australia is facing a class action by Indigenous workers seeking to recover stolen wages, after a historic $190 million settlement was reached last year in a stolen wages class action against the state of Queensland.
Crown Resorts is the target of an investigation by AUSTRAC’s enforcement team in connection with its dealings with high-risk customers at its Melbourne casino.
For information on rights and reprints, contact subscriptions@lawyerly.com.au
