A former director of sandalwood producer Quintis, who is suing the company’s top brass over statements made to the corporate regulator, has won unrestricted access to legal advice the executives sought to keep a lid on.
Two insurers have won an appeal that blocks group members in a class action against sandalwood producer Quintis from receiving a further $11.25 million after a settlement was reached almost two years ago.
Shareholders bringing a class action against Quintis have lost their bid for Ernst & Young to hand over documents from two meetings with a director of the sandalwood supplier, after a judge found they did not get “within a bull’s roar” of showing the accounting firm’s discovery was inadequate.
Two shareholder class actions against sandalwood producer Quintis that reached an in principle settlement over a year ago are moving forward following a protracted dispute over insurance, with the lead applicants getting approval to file proposed amended pleadings.
A lengthy dispute over insurance in a settled class action against sandalwood producer Quintis has been resolved, with the Federal Court rejecting a challenge by two insurers to the rectification of policies that could provide a further $11.25 million in recoveries to group members.
Two insurance brokers have dodged being dragged into class action proceedings against sandalwood producer Quintis to boost a settlement reached last year, as a fight over insurance owed to the company to cover the settlement continues.
A lawsuit seeking to increase D&O insurance for sandalwood producer Quintis in the wake of a class action settlement has fallen short of the $40 million in additional coverage sought, but a Federal Court decision may see a further $11.25 million go to group members.
Insurance policies that may be worth up to $46 million and have derailed settlement approval in two class actions against sandalwood producer Quintis were “cobbled together” and contained errors and omissions, a court has heard.
Quintis founder Frank Wilson has won his bid for unredacted transcripts of ASIC examinations with six former directors of the failed sandalwood company.
The plaintiffs in one of two shareholder class actions brought against troubled sandalwood producer Quintis have complained about potential delays that could result from the “overly complicated loss theory” being advanced in a parallel class action.