Latest Insurance Recoveries News

Vital Metals reported a A$16.63 million FY2026 loss after impairing its North T mine asset by A$12.73 million, while its auditor highlighted material uncertainty over the company’s ability to continue as a going concern. The balance sheet was strengthened by A$12.47 million in placements, but Tardiff’s encouraging drilling results must now translate into a larger resource and a credible pre-feasibility study.

Karoon Energy has confirmed an electrical fault in the newly installed power cable serving Baúna’s SPS-92 well, deferring about 3,500 barrels of oil a day. The repair requires a rig-based intervention, prompting cuts to production guidance and higher unit cost forecasts for 2026.

The Supreme Court of Victoria has approved FleetPartners’ $27 million settlement of shareholder class action proceedings. The company says available insurance proceeds will cover the full amount, with no admission of liability.

PolyNovo has delivered solid FY26 revenue growth of 16.1%, driven by commercial sales expansion and improved manufacturing output, while progressing insurance recovery from its R&D centre fire.

EQT Holdings is stepping away from its superannuation trustee arm to sharpen focus on core corporate and wealth services, triggering a $13 million impairment and legal expenses in FY26.

Foresta Group Holdings reported a 12% increase in its half-year loss to nearly $2 million as it progresses its pioneering wood pellet and pine chemicals project in New Zealand, securing key lease agreements and finalising a $2.4 million insurance settlement.

Synlait Milk Limited reveals a challenging first half of 2026 with significant losses expected, as it pivots its operations around Canterbury following the upcoming sale of its North Island assets.

Retail Food Group has refinanced its senior debt with a new $41.2 million facility to back its Enhance & Grow strategy, while updating earnings guidance amid challenging trading conditions.

The Federal Court of Australia has approved BHP’s AU$110 million settlement of the Samarco shareholder class action, marking a significant legal milestone for the mining giant.

Korvest has reported a record $13.2 million profit for FY25, driven by strong performances in its EzyStrut and Galvanising divisions, and is now embarking on a major expansion of its Kilburn manufacturing site.

Foresta Group Holdings has finalized a $4.6 million insurance settlement related to 2021 asset damage at Apple Tree Creek, marking the close of a multi-year claim process.

Latitude Group Holdings reported a robust half-year to June 2025, with revenue climbing 13.3% and statutory profit soaring 341%, while navigating ongoing regulatory investigations related to a 2023 cyber incident.