Norton Rose Fulbright LLP

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An appeal bench decision sets the cat amongst the pigeons in the realm of material non-disclosure. The well-known judgment in Jerrier v OUTsurance dealt with whether OUTsurance was entitled to reject Jerrier’s claim for accidental damage to his insured Audi R8 sports car. The reason for the rejection was non-disclosure of two previous motor incidents for which Jerrier had not claimed. The appeal court, overturning the earlier ruling in this matter, held that OUTsurance was…
A breach of fiduciary duty by a director should never be taken lightly. The consequences can be expensive when a director prefers their interests over those of their company. A stock brokerage successfully sued its former managing director for damages based on the MD’s breach of fiduciary duty and abuse of his position of trust. The court found that Carlsson exploited his role as MD to stall risk to himself and transfer risk to Tlotlisa Securities.…