Event and Time
Event Description
- Date of Substantive Judgment: 27 July 2022
- Subsequent Orders for Costs: 12 October 2022
- Settlement Conference: Parties directed to confer and agree on costs orders, failing which they were to submit their positions by 9 May 2023.
Application and Claims
- Parties Involved: CIMIC Group Limited and several insurers, including AIG and Swiss Re.
- Claim Details: CIMIC sought:
- Indemnity from 2011 Insurers for losses of $43,670,400. - Declarations from 2010 Insurers as an alternative.
- Cross-Claims:
- AIG against two 2010 Insurers for equitable contribution. - Catlin defendants against CIMIC for declarations and rectification.
Judicial Decisions
- The court was tasked to determine appropriate costs orders based on the outcomes of various claims and the conduct of the parties throughout the proceedings, with specific attention to Calderbank offers made by the insurers.
Dispute Points and Legal Basis
Dispute Points
- Claims and Arguments:
- CIMIC: - Sought indemnities for substantial losses. - Asserted the necessity of claims against both years' insurers. - Argued that its structuring of claims was warranted and reasonable. - Insurers (Defendants): - Argued against the characterisation of losses and the necessity of indemnities. - Opposed the allocated responsibilities of costs, particularly regarding the lack of interdependence of claims.
- Calderbank Offers:
- Timing and terms of offers varied among insurers, and CIMIC's rejection of certain offers was contested as reasonable or unreasonable depending on the nuances of each offer.