The Supreme Court of Victoria’s recent decision in Owners Corporation 1 Plan No. PS 640567Y v Shangri-La Construction Pty Ltd [2026] VSC 117 (“Shangri-La”) is an Australian judgment that sits at the intersection of three issues: the post-Grenfell cladding liability landscape, the proper construction of professional indemnity insurance and the exposure of directors to personal liability for the defaults of their companies.