Article from: The Australian Written by: Milanda Rout August 22, 2008
THE co-owner of the Beaconsfield Gold Mine in northern Tasmania has
lost a legal battle to get $45.5 million from its insurance company to cover
profits lost from the closure of the mine following the 2006 fatal rock fall.
Allstate Explorations wanted QBE to pay the money to the company after
the Anzac Day disaster that killed Larry Knight and trapped Todd Russell
and Brant Webb for 14 days. Allstate claimed for loss of profits as a result
of the closure of the mine by Worksafe, saying the losses should be covered
by its insurance policy. QBE disagreed and refused to pay.
Allstate failed in its bid to take its fight to the Victorian Supreme Court
earlier this year, and yesterday its arguments were rejected by the Court
of Appeal. The court ordered Allstate to pay the legal costs of the appeal
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