Although ASIC's recent prosecution against Peter Drake and two other directors of LM Investment Management Ltd (LMIM), in the Federal Court decision of Australian Securities and Investment Commission (ASIC) v Drake (No. 2)  FCA1552 (ASIC v Drake) left the regulator with 'egg on its face'1 , the judgment offers a useful guide to insurers when defending claims against directors and officers on how to identify potential weaknesses in a claimant's case.
In this article we discuss a recent Tasmanian Supreme Court Judgement which serves as a reminder of the pivotal principles applied in common law claims for personal injury and also of the inherent danger and ongoing risk and exposure to employers who utilise quad bikes in the work place.
A recent decision by the District Court of Western Australia is likely to have significant repercussions for head contractors who elect not to exercise supervision over a work site, even where they delegate responsibility to competent sub-contractors.
Directors who fail to consider climate-related risks may be liable in the future for breaching the duties they owe to their company of care and diligence.
In the current debate around clean energy finance and the role of coal-fired power stations in maintaining energy security, the process of carbon capture and storage (CCS) is one option under consideration for facilitating 'clean coal'. As a relatively new technology, the installation and operation of CCS projects creates novel risks and, as the perennial 'canaries in the coalmine', insurers are at the forefront of assessing those risks.
Introducing Banking & Finance Disputes Monthly. For 2017, we are changing the format of insights delivered to you in the Banking and Finance Dispute Resolution space - from a quarterly publication to an easier to read monthly article on a particular case or other recent development. We hope you find the new format valuable - please do pass us on any feedback in this regard.
As a consequence of the new Building Code 2016 coming into effect late last year1, there is now a live question as to whether many standard form contracts used in connection with Commonwealth funded construction projects require amending to include conclusive documented dispute resolution processes.
The South Australian Government today announced a new plan to take charge of its energy security and to provide a rapid fix to some of the problems that have plagued the supply of electricity in South Australia over recent months.
On Thursday, the Australian Competition and Consumer Commission (ACCC) issued its final determination to deny authorisation to 16 insurance companies to jointly impose a cap of 20 percent on commissions paid to motor vehicle dealers who sell their add-on insurance products.