A judge overseeing a shareholder class action against GetSwift has said the settlement and company itself have “collapsed” after the logistics business went into liquidation and failed to make the last of the upfront payments due under the deal’s $1.5 million cash component.
A judge has approved a $52 million settlement is six class actions against car makers for allegedly selling cars fitted with deadly Takata airbags, under which individuals group members will get around $600 after $31.7 million in expenses is deducted.
Fired underwriter Greg Brereton has been granted an extension to respond to lawsuits targeting Insurance Australia Group over trade credit policies covering $4.6 billion in loans issued by collapsed Greensill Capital.
A judge has criticised the Andrews government for withholding information about the alleged transmission of COVID-19 to a security guard working in hotel quarantine in a class action claiming lapses in the program caused Victorian businesses to suffer losses.
Insurer Bond & Credit Company has denied it owes damages over the collapse of the Greensill group, saying it issued a trade credit policy at the centre of four lawsuits because the supply chain financing firm concealed its risks and made fraudulent misrepresentations.
The state of Victoria has asked a court to strike out a class action alleging lapses in its hotel quarantine program caused businesses to suffer losses when stage three and four COVID-19 restrictions were put in place between July and August 2020.
Logistics company GetSwift and its directors have dropped their challenge to a judgment that found the company breached its continuous disclosure obligations with its “PR-driven” approach to ASX statements.
Insurance Australia Group is investigating the underwriter behind an allegedly unauthorised trade credit policy issued to Greensill Capital, according to a defence by the insurer in a $43 million case brought by a Credit Suisse supply chain fund left heavily exposed after Greensill’s collapse.
The directors of mortgage aggregator Connective Services have been hit with indemnity costs for their “outrageous conduct” in pursuing litigation against a company shareholder, including giving false statements and destroying evidence.
Collapsed supply chain finance company Greensill Capital has been accused of fraudulently obtaining policies from its largest insurer, Japan-based Tokio Marine, which has been dragged into four lawsuits over a trade credit policy issued in 2019.