The following piece was contributed by Anne Freeman of Australian law firm, Piper Alderman.
Virgin Australia, which has been sued by investors who purchased unsecured notes in the airline based on statements in a 2019 prospectus for a capital raising, has been ordered to advise the lead applicant in the class action whether its has made a claim against its insurer for its costs and any liability in the class action, and whether its insurer has agreed to grant indemnity. It has also been ordered to produce copies of any insurance policies which might respond to the claims made in the class action[i].