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A unit of Australian funds manager One Investment Group is seeking to recoup almost $90 million in debts allegedly owed by three former directors of collapsed property developer Steller Group.
Failed insurance brokerage can’t get cover from Chubb for director’s alleged theft
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A judge has denied defunct insurance broker All Class Insurance its bid for indemnity cover for the alleged theft of company funds by its director, finding the director misappropriated trust funds and fraudulently did not disclose the conduct to insurer Chubb Insurance.
Zurich unit OnePath to refund $35M to tens of thousands of life insurance customers
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Zurich Group life insurance subsidiary OnePath Life will refund $35 million to 40,000 customers who were sold life insurance over the phone and were subject to “egregious” sales practices.
Banks can’t suppress judgment on defective indictment in ANZ cartel case
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Investment banks accused in the criminal cartel case over a $2.5 billion ANZ share placement will not lose their right to a fair trial with the release of a judgment finding the prosecutors’ indictment deficient, a judge has ruled.
Law firms may be next target of litigation funding reforms
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ASIC may end exemptions for law firms running class actions under conditional costs schemes from complying with registration and licensing requirements that were put in place as part of the federal government’s reforms targeting litigation funders.
Fight brewing over competing pelvic mesh class actions against Boston Scientific
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Despite a judge’s urging for the parties to arrive at a “pragmatic solution”, the lawyers behind competing pelvic mesh class actions against Boston Scientific will duke it out for carriage of the proceedings.
Christian Porter says no superior public interest in airing ABC’s defamation defence
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Media companies seeking access to the ABC’s unredacted defence in a now-settled defamation case brought by Christian Porter told a judge the principle of open justice required that the pleading be made public, while the former attorney-general argued there was no “superior” public interest in airing the document.
Bar Association says tribunal should have made professional misconduct finding against barrister
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A barrister who allegedly pushed an assistant clerk’s head while making a sexual remark at a professional dinner should have been found to have engaged in professional misconduct, the Council of the NSW Bar Association has told an appeals court.
‘Pretty embarrassing’: Teen frowns on government’s appeal of victory in climate change class action
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The Federal Minister for the Environment has announced plans to appeal a Federal Court judgment that found the government has a duty of care to protect Australian children from the impacts of climate change.
Forum Finance placed in liquidation, with ‘peripatetic’ director still abroad
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The Federal Court has ordered the winding up of Forum Finance, which has been accused by Westpac and French investment bank Societe Generale of a $263 million fraud, as details of the company’s jetsetting director’s planned return to Australia from Europe remain murky.