Hot off the press and NOT in Marsh's favour…

Greensill Bank AG v Insurance Australia Limited (Anti-Anti-Suit Injunction Application) [2025] FCA 1241.

Many know Marsh as a key player in the global insurance broking area.

Many (like myself) even started their career there dealing in major insurance transactions…

But now this mega global broker has seen itself in a major cross jurisdictional battle arising from the Greensill Bank collapse which occurred in 2021.

AND this latest Federal Court decision has not turned Marsh’s way…

Looking back at the underlying issue, insurers refused to renew coverage for the bank and triggering its collapse…

Respondents to the proceedings therefore include insurers Tokio Marine and Insurance Australia Limited in addition to Marsh in Australia and the UK.

As background to the proceedings at hand, Greensill Bank foreshadowed joining Marsh to various proceedings and Marsh applied to an English Court for an anti-suit injunction to restrain Greensill Bank from doing so.

Legally speaking, this was about exclusive jurisdiction clauses which were contended to be contractually binding on Greensill Bank but the English Court refused interim relief sought by Marsh and mostly refused the interim anti-suit relief sought by Marsh.

However, in Federal Court of Australia proceedings Greensill Bank has been successful in what is an Anti-Anti-Suit Injunction.

Against Marsh the FCA ordered:

• Marsh Limited and Marsh Pty Ltd are restrained from taking any steps, either directly or indirectly, by themselves or through their subsidiaries or affiliates or agents, in the High Court of England and Wales or any other court (other than the Federal Court of Australia) to pursue, or seek to renew, their claims for relief in the High Court of England and Wales (Claim number CL-2024-000433), in relation to the letters of engagement between Greensill Capital (UK) Limited and Marsh Limited referred to in paragraph 4.a of the Amended Claim Form dated 16 April 2025

• what the above means is that Greensill has been successful in precluding Marsh from pursuing legal action in the English Court that may have thwarted its Australian claims.

• further, the FCA has recognised the applications by Marsh may block statutory misleading claims against Marsh where complete relief of same is only available in the Australian proceedings.

A copy of the case is below and makes for an interesting read.

The BIGGER picture here is the jurisdictional issues for global brokers with global clients and major exposure, not just for Marsh but for any global broker! www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2025/2025fca1241

This article is a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Tagged as:

• litigation