Associate Professor in International Law at UNSW and expert in investor-state dispute settlement (ISDS) Jonathan Bonnitcha is available to comment on the resolution of this long-running dispute.
An international tribunal has today unanimously rejected a claim by Clive Palmer against Australia.
The mining magnate and former Senator had been seeking $305bn in damages against Australia, after his Singapore-based investment company claimed damages totalling almost $US200bn ($A305bn) after a mining proposal in Western Australia’s Pilbara region was blocked.
The case against the Commonwealth argued breaches of the ASEAN-Australian-New Zealand free trade agreement.
The Permanent Court of Arbitration has dismissed the case and ordered that Mr Palmer’s company must pay Australia’s costs of AU $13.6 million.
“This is the best outcome that the Australian government could have hoped for, although it remains to be seen if the company will pay up,” A/Prof. Bonnitcha said.
“This decision puts Australia in a strong position to defend the remaining three cases. The Australian government no longer includes ISDS provisions in its trade and investment agreements. The Palmer saga shows why the Australian government is right to reject ISDS.”
Contact details:
For interviews please contact:
Associate Professor Jonathan Bonnitcha
0403 236 950
