Our experience includes corporate/regulatory, litigation and dispute resolution, and Directors' and Officers':
Corporate/regulatory
Mergers & Acquisitions
Acted in some of the largest insurance mergers and acquisitions, joint ventures,
significant restructures and capital raisings in Australia, including:
- acting for CGU (UK) on its A$170 million acquisition of AXA's interest in CGU Australia;
- acting for ACE on the Australian aspect of its global acquisition of Combined Insurance;
- acting for Enstar in relation to the acquisition of the Gordian Runoff group of companies from AMP;
- advising Allianz Australia on its unincorporated joint venture with HIH Insurance to market their retail insurance businesses; and
- advising MetLife on the acquisition of the Australian insurance business arm of Travelers Life and Annuity from Citigroup, as part of its US$11.5 billion worldwide acquisition campaign.
Life / Health insurers
Acting for life and health insurers on a range of issues including mergers and
acquisitions such as MBF's A$250 million acquisition of the Clearview businesses
from IAG and its A$2.41bn merger with BUPA Australia.
James Hardie
Advising James Hardie in making submissions to the NSW Government, which
resulted in the development of a novel claims resolution process in the Dust
Diseases Tribunal. This involved complex issues related to asbestos litigation
in Australia and the matter concluded with the proclamation of ground-breaking
New South Wales legislation.
Bao Viet 'equitisation'
Acting for Bao Viet Corporation, the holding company of the main Vietnamese
State-owned insurance companies, in the sale of shares in that company to
foreign strategic investors as part of the 'equitisation' of Bao Viet
Corporation. This is the only matter of its kind in Vietnam.
Product development
Advising Chubb on the introduction of new professional indemnity products, as
well as advising in relation to D&O insurance policy exclusions.
Captive insurance arrangements
Advising a major Australian bank on its captive insurance and reinsurance
arrangements, including in relation to third-party liability, bankers blanket
bond and computer crime. We also advised on policy wording, as well as
jurisdictional issues.
Health insurance reforms
Advising MBF on the significant reforms associated with the re-regulation of
health insurers brought about by the introduction of the Private Health
Insurance Act 2007 (Cth).
Competition compliance
Advised AIG on the effect of section 77A of the Trade Practices Act 1974 (Cth)
on a company's ability to acquire insurance for its directors and officers for
fines and penalties resulting from a breach of anti-competition laws.
APRA Stage 2 reforms
Guiding various clients including PMI Mortgage Insurance, Tokio Marine,
Australian Insurance Holdings and Gen Re through the implementation and issues
arising out of the APRA prudential standards (Stage 2 Reforms).
Workcover
Advising the scheme agents on arrangements associated with the implementation of
the Workers Compensation Scheme in NSW on behalf of the nominal insurer and
WorkCover.
Law reforms
Advising various clients on the Australian reforms to medical indemnity and tort
law.
Litigation and dispute resolution
Class actions
Acted for Aristocrat in the largest shareholder class action to proceed to trial
in Australia. The class action arose from Aristocrat's profit downgrade in 2003.
We are also advising. Aristocrat on insurance issues which arise out of
litigation in the US with the holders of convertible bonds. We also:
- acted for the insurers in a class action brought by a group of retail investors against CIAFM and others, arising from a tax-driven technology scheme; and
- represented Ord Minnett in proceedings brought by more than 100 investors, arising from trading in derivatives and equity financial products.
HIH collapse
Acted on behalf of General Re in the defence of the proceedings against them by
HIH (in liquidation), a highly publicised matter that included a Royal
Commission, APRA investigations and litigation.
Recovery actions
Advising Fluor on recovery actions arising from the construction arbitration
between Anaconda Operations and Fluor in relation to the Murrin Murrin facility
in Western Australia. The original dispute was said to be worth more than $1
billion, and the matter settled for a significant sum in 2004. We have also
assisted Fluor and its insurers to pursue five separate claims seeking
recoveries from contractors in relation to the design and construction of the
facility.
Pension mis-selling
Acting for a client in a disputed coverage issue with a number of underwriters
in relation to alleged pension mis-selling in Asia and the Middle East.
Royal commissions / inquiries
Acted for numerous interested parties including Allianz and General Re in the
Royal Commission into the collapse of the HIH insurance group; in the Royal
Commission and subsequent class actions arising from the interruption of gas
supplies in Victoria; Sydney Ferries in a Special Commission of Inquiry,
following a succession of accidents on Sydney Harbour which resulted in five
fatalities; and in relation to various inquiries in relation to rail accidents.
Professional negligence
Acting for insurers such as Allianz, Markel, Vero, Dexta and GIO in defending
negligence claims made against directors, officers, engineers, architects,
accountants, insolvency practitioners, barristers, solicitors, stockbrokers and
hospitals.
Mortgage insurance
Acting for clients in disputes relating to policies of lenders mortgage
insurance.
Indemnity proceedings
Acting for clients such as GHD, Chubb, AssetInsure, First American Title, Lloyds
Underwriters and other Australian and London based insurers in proceedings
relating to professional indemnity insurance claims.
Capital raisings
Acting for the London insurers of a major Australian bank in proceedings issued
by an investor in a failed capital raising against an array of professional
advisers.
Claims disputes
Acting for insurers including Allianz, American Home Assurance company, Dexta
and Markel on a range of insurance claims disputes.
D&O policies
Advising Chubb on the terms of a D&O policy where proceedings were brought
against an uninsured trust, and against named individuals sued as
representatives of an unincorporated association.
Managed investment scheme
Acting for Dexta, as the insurers of the defendants, in a claim brought by
investors in a failed managed investment scheme.
Business interruption claims
Acting for Incitec Pivot in a dispute with its insurer over a business
interruption insurance claim. The claim arises from a gas outage at a copper
smelter facility shared by Incitec with Xstrata at Mt Isa.
Directors' and Officers'
Coverage disputes
Acting and act for a number of insurers in relation to coverage disputes under
D&O policies, including claims for advance defence costs and claims where
indemnity is declined on the basis of fraud or dishonesty.
Brokers
Acting for a range of brokers in defending professional indemnity claims against
them in relation to policy coverage and misleading and deceptive conduct. We are
also defending claims based on alleged failure to take adequate steps to detect
or prevent fraud.
Policy development
Assisting a multinational resources company to develop its policies in relation
to D&O indemnity and insurance. This has involved advising on the operation of
limitations on the ability of companies to indemnify and insure directors and
officers under the Corporations Act and common law limitations on
indemnification and insurance for fines and penalties.
Coverage review
Assisting a number of clients in reviewing coverage, especially in the context
of takeovers and mergers.
Commission of inquiry
Acting for Sydney Ferries in a Special Commission of Inquiry, following a
succession of accidents on Sydney Harbour, resulting in five fatalities. We
advised Sydney Ferries of its ability to recover the legal expenses incurred in
having its officers appear before the Inquiry under its D&O insurance policy.
