The Swiss Federal Supreme Court has rejected challenges brought by Clive Palmer against an international tribunal’s decision dismissing his investor-State arbitration claim against Australia.
The Swiss Federal Supreme Court’s rulings uphold the unanimous decision of the Tribunal that it had no jurisdiction over the AU $300 billion dispute bought by Zeph Investment Pte Ltd, a Singaporean company ultimately owned by Mr Palmer. The Tribunal found that Zeph is not an investor with an investment that is protected under the ASEAN-Australia-New Zealand free trade agreement.
Mr Palmer sought to bring the dispute before the Tribunal following his unsuccessful challenge in the High Court of Australia as to the validity of Western Australian legislation regarding his proposed Balmoral South Iron Ore Project in the Pilbara.
The Swiss Federal Supreme Court awarded Australia costs in defending Mr Palmer’s challenges.
Quotes attributable to the Attorney-General, Hon Michelle Rowland MP:
“I am pleased that the Swiss Federal Supreme Court has rejected Mr Palmer’s applications against Australia and awarded costs.
“The Albanese Government has vigorously defended this claim from the outset.
“The Swiss Federal Supreme Court has confirmed that Mr Palmer is not a ‘foreign investor’ and is not entitled to any protections under Australia’s free trade and investment agreements.
“Australia had to spend more than three years and AU $13 million defending a legal claim that tried to put everyday Australians on the hook for $300 billion.”
