Irish insurer Zurich Insurance has refused consent for a class action over a defective New Zealand apartment block to proceed in the NSW Supreme Court as it mulls a High Court challenge to the case.
Law firm Sophie Grace has settled a lawsuit brought by collapsed forex broker Gallop International Group claiming its failure to ensure the company complied with its obligations as a holder of an Australian financial services licence led to $15.4 million in investor funds being loaned to the company’s director in Hong Kong.
Irish insurer Zurich Insurance has lost its appeal seeking to shut down a class action filed against it in the NSW Supreme Court over a defective New Zealand apartment block.
Although the settlement sum has not been disclosed, court documents in the Opal Tower class action reveal the litigation funder backing the case will seek $13.2 million in commission when the parties appear before the court later this year.
Investment manager Payton Securities has lost a bid to recoup claimed losses over $1.4 million stemming from an allegedly negligent property valuation by Bertacco Ferrier, with a judge finding that the company had not retained the valuer and was not a party to the valuation.
Irish insurer Zurich Insurance has appealed a judge’s finding that a class action filed against it in the NSW Supreme Court over a defective New Zealand apartment block could go ahead, arguing the finding was the result of federal overreach.
The litigation funder backing two combustible cladding class actions has sold a third of its investment in the cases to a player in the nascent secondary market for class action financing.
Insurance law firm Wotton + Kearney has opened its seventh office across Australia and New Zealand, expanding into Adelaide to meet local client demand and allow lawyers to work from their home town after the pandemic.
A long-running class action over the Opal Tower disaster has settled, along with two related cases over the defective building, as a five-week trial was set to begin.
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.