Liberty Mutual Insurance does not have to indemnify dam operator Sunwater for its share of a $440 million settlement of the Queensland floods class action, the NSW Supreme Court has found.
The structural engineer behind Sydney’s ill-fated Opal Tower can examine whether builder Icon Co has been indemnified for $31 million worth of damage which occurred in the 36-storey apartment block on Christmas Eve of 2018, a court has found.
Prefab concrete company Evolution Precast Systems failed to install reinforced concrete in Sydney’s ill-fated Opal Tower and knew about a prior failure with one of the building’s panels, engineer WSP Structures alleges in a cross-claim lobbed in a class action on behalf of residents of the tower.
Insurance Australia has been hit with a class action by business owners whose claims for business interruption losses caused by the COVID-19 pandemic have been denied.
A judge has dismissed two cases brought by the Commonwealth Bank, Westpac and other lenders against directors of the failed steel giant Arrium, saying he was not satisfied the directors’ representations on loan drawdown notices were false or that the company was insolvent when it went into voluntary administration in April 2016.
A settlement reached in a lawsuit by the liquidators of collapsed steel giant Arrium against 10 former company directors accused of insolvent trading has been approved by a judge, who noted that while the settlement amount was “substantial”, the deal involved a “substantial compromise”.
Third-party liability insurers may become the latest parties to be dragged into a complex class action over alleged defects in Sydney’s Opal Tower, which has has spawned six cross-claims so far.
Opal Tower builder Icon and structural engineer WSP Structures have been joined as defendants in a class action brought by property owners, who have also added a slew of consumer law claims to the complex proceedings.
A mid-trial settlement has been reached in a lawsuit brought by the liquidators of collapsed steel giant Arrium against 10 former company directors and officers for allegedly engaging in insolvent trading.
A judge has suggested hearing the long-running class action over the Opal Tower disaster as early as the first quarter of next year, as the court juggles three concurrent lawsuits and a slew of cross-claims over the doomed building.