Cooper Grace Ward’s litigation and dispute resolution team and lead partner Rocco Russo continue to receive outstanding market recognition having been ranked in the recently released Chambers Global 2024 international rankings.
Cooper Grace Ward’s Litigation and Dispute Resolution team has again been ranked among the top Australian practices in The Legal 500 Asia Pacific rankings for 2024.
The Corporations Act 2001 (Cth) imposes a liability on financial advisers who engage in misleading and deceptive conduct to compensate a person who suffers loss by that conduct.
On 26 October 2013, the Queensland Parliament passed the Directors’ Liability Reform Amendment Act to give effect to its promise to introduce legislation to reduce the liability of directors and officers in Queensland. The Act took effect on 1 November 2013.
A recent decision by the NSW Court of Appeal concerning parties making claims against directors and officers provides some certainty for directors and insurers with regard to the proceeds of D&O policies.
An earlier judgment that suggested that directors may be unable to rely on Directors’ and Officers’ (D&O) liability insurance to fund defence costs has been reversed. The overturned decision had effectively prevented directors accessing a single policy, intended to cover both defence costs and claims for damages, where a civil claim (e.g. a class action by shareholders) was held to have first priority over the insurance money.
A decision of the New Zealand High Court last year cast doubt on whether directors could rely on D&O policies to fund their defence costs. It was held that civil claimants held the priority interest in Directors’ and Officers’ liability cover (D&O) under a statutory charge, and could prevent company directors from accessing the insurance funds to pay defence costs.
A recent ruling in New Zealand has cast doubt on the extent to which directors can rely on their Directors’ and Officers’ (D&O) liability insurance cover to help fund defence costs. The decision is relevant to all directors of companies who have a single policy covering both defence costs and claims for damages.
Client legal professional privilege lies at the heart of Australia’s legal system. Essentially, it is the principle that confidential communications between a client and a legal advisor should be protected to facilitate honest and open communication between them.