In a significant decision for the insurance industry, the Federal Court of Australia has granted leave to shareholders to bring a direct action against a company’s insurers where the (insured) company was in liquidation. This is one of the earliest cases to make use of the new Civil Liability (Third Party Claims Against Insurers) Act 2017 (NSW) (Third Party Claim Act), and provides some useful guidance for the industry on how this new legislation will be applied.
The decision impacts plaintiff lawyers, policyholders and insurers alike. Importantly:
Australia, Insolvency & Restructuring, Insurance, Litigation, King & Wood Mallesons, Liquidation, Federal Court of Australia
Proposed appeal fails to raise broader issues about the intersection of copyright and insolvency law
Canada, Ontario, Copyrights, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Copyright infringement, Court of Appeal for Ontario