Crown Resorts verklagt Versicherer wegen Vergleich im Casino-Skandal in Höhe von 72,5 Mio. AUD
Story summary
Der australische Casinoriese Crown Resorts verklagt einen Versicherer, der seiner Meinung nach bei der Deckung einer Aktionärssammelklage in Höhe von 72,5 Mio. AUD im Zusammenhang mit seinen Geldwäsche- und Governance-Skandalen helfen soll. Crown reichte die Klage gegen RiverStone International beim Obersten Gerichtshof von Victoria ein und beschuldigte die
📌 Key Highlights & Takeaways
- Der australische Casinoriese Crown Resorts verklagt einen Versicherer, der seiner Meinung nach bei der Deckung einer Aktionärssammelklage in Höhe von 72,5 Mio.
- AUD im Zusammenhang mit seinen Geldwäsche- und Governance-Skandalen helfen soll.
- Crown reichte die Klage gegen RiverStone International beim Obersten Gerichtshof von Victoria ein und beschuldigte die
Australian casino giant Crown Resorts is suing an insurer it claims should help cover an A$72.5 million shareholder class-action settlement linked to its money laundering and governance scandals.
Crown filed the lawsuit against RiverStone International in the Supreme Court of Victoria, accusing the insurer of refusing to pay under excess insurance policies that Crown says cover the settlement.
The settlement resolved a shareholder class action filed in 2020 after Crown’s share price tanked because of revelations about anti-money laundering (AML) failures.
The lawsuit alleged Crown made misleading statements about its compliance with AML regulations and failed to properly disclose problems involving its VIP international business and junket program. Crown agreed to the A$72.5 million (US$51 million) settlement last year without admitting liability.
Crown held multiple layers of directors and officers insurance designed to protect the company and its executives against legal claims.
Its primary insurer, AIG, paid A$7.5 million ($5.3 million) before that layer of coverage was exhausted, according to the Sydney Morning Herald.
RiverStone held 50% of the risk on Crown’s fourth- and fifth-layer excess policies but has declined to pay, prompting Crown’s lawsuit.
Crown claims RiverStone and other insurers instructed the casino operator to act as though it were “uninsured” while negotiating the shareholder settlement.
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Source: Casino.org.
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