Category Archives: Australasia

A serious warning from the New Zealand courts for directors of subsidiaries of foreign-owned parents

gavel on a desk with some legal reference books in the background

In a globalized economy, directors of foreign-owned companies need to consider the impact of foreign law, regulation and practice governing the parent. Continue reading →

How “Pure Entity” Australian Class Actions have distorted the D&O market

gavel on a desk with some legal reference books in the background

In 2012, the Federal Court of Australia’s decision in ASIC v Healey sent shockwaves through the boardrooms of large Australian companies and beyond. All seven non-executive directors as well as the Chief Executive Officer of Centro Group were found by … Continue reading →

Tropical Cyclone Debbie slams Australian coastline

Cyclone Debbie

Slow-moving Cyclone Debbie brought strong winds and torrential rains accumulating more than 200mm over 24 hours in many places, causing widespread coastal flooding. Continue reading →

Bridgecorp’s Impact on International Liability Programmes: Does the Defence Costs Tap Remain Frozen?

New Zealand Over Globe

So how big a problem for international programmes is the Supreme Court decision in Bridgecorp about which I recently blogged? In other words, what impact does the decision have on large companies that buy their D&O (or E&O or other … Continue reading →

Bridgecorp Decision Freezes Defence Costs Tap for Directors

On the day before Christmas Eve 2013, the Supreme Court of New Zealand handed down a judgment dramatically changing the landscape for D&O (and E&O) indemnity insurance claims in New Zealand. In one of my last blogs of 2013 I … Continue reading →

Watch Out: The Aussie Plaintiff’s Bar is Joining the Party

Australia Flag Atop Old Bailey

Any company can in theory apply now to launch its own law firm--another indication of changes in the litigation landscape here, which are more conducive to large scale and complex litigation involving large companies and their professional advisers. Continue reading →

Australian Bushfires: “Dome of Heat” Breaks Temperature Records: Initial Costs Counted


Large parts of central and southern Australia are suffering from a persistent heatwave that has caused catastrophic bushfires across Tasmania, New South Wales and Victoria. They are the worst bushfires to affect the area since ‘Black Saturday’ in 2009, which … Continue reading →

New Zealand Reversal Favors Directors

New Zealand Justice

The New Zealand Court of Appeal has just (on 20th December) handed down a long awaited judgment in the Bridgecorp case (and in another case on similar facts involving the insolvency of Feltex). The decision is very significant since it … Continue reading →

There’s No Place Like Home–or, See the Recent National Australia Bank Securities Settlement in Oz

Australian Justice

For those who follow U.S. securities litigation—most importantly, non-U.S. companies who follow U.S. D&O litigation—the June 2010 Supreme Court decision in Morrison v. National Australia Bank Ltd. was seen as a tremendous win for the foreign defendants, as it sharply … Continue reading →

A Cautionary Tale for Company Secretaries & General Counsel

On 3rd May 2012 the highest Appeal Court in Australia delivered a judgment focusing on the importance the Court attaches to the accuracy of board minutes and press releases, confirming the need for general counsel and company secretaries to have … Continue reading →