The former CEO of failed electronics retailer Dick Smith should be held responsible for approving two dividend payments worth $28.5 million which the company could not afford to pay given it owed millions in unpaid bank loans and supplier debts, an appeals court has heard.
While mostly prevailing in test cases over coverage for COVID-19 business interruption claims, Insurance Australia Group has asked the High Court to weigh in on what it says is a “radical” approach by an appeals court in the treatment of JobKeeper payments.
An appeals court challenge by a group of small businesses seeking coverage under business interruption insurance policies for losses flowing from COVID-19 restrictions has largely failed.
Franchisees of the Hog’s Breath Cafe restaurant chain are challenging a ruling that they hand over $1.23 million in security for the defence costs of the franchisor in their class action.
The law firms and barristers who defended former Dick Smith directors in sprawling litigation over the failure of the electronics retailer earned close to $68 million in fees, a court has heard.
Franchisees of the Hog’s Breath Cafe restaurant chain must pay $1.23 million in security for legal costs in their class action against the franchisor, and the matter is stayed until they can pony up the first installment.
A class action against failed Fairview Architectural over alleged combustible cladding hangs in the balance as a court sets the stage for a fight with insurer Vero over a $190 million policy.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion’s share, with $672 million in settlements under its belt.
National Australia Bank and HSBC should be “jointly and severally liable” to pay a portion of the costs of a failed case brought by Dick Smith’s receivers against the company’s former directors because the banks stood to gain financially if the lawsuit was successful, the NSW Supreme Court has heard.
In rejecting a bid by The Star Entertainment Group to recoup losses stemming from the COVID-19 pandemic, the Federal Court’s Chief Justice did “real and unexplained violence” to the construction of a business interruption policy the casino giant had taken out with Chubb, the Full Court has heard.