INSURANCE (GENERAL)/FINANCIAL SERVICES
In Australian Securities and Investments Commission v Youi Pty Ltd [2020] FCA 1701, Ms Nola Pearce (led by John McKenna QC) represented a major insurer in the Federal Court in proceedings brought by ASIC for alleged breach of s 13 of the Insurance Contracts Act 1984 (Cth). The proceedings arose from events which emerged in the Hayne Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. For the insurer, Nola and McKenna QC were able to limit the outcome of the proceedings to a single declaration. Together with McKenna QC, Nola previously had advised the insurer in respect of legal outcomes and strategic approach to the events and outcome of the Royal Commission.