Clive Palmer takes case against Australia to Switzerland's highest court

Mining tycoon Clive Palmer is escalating his lawsuit against nan Australian authorities to Switzerland's highest tribunal aft an world tribunal rejected his declare of being a overseas investor and ordered him to salary $13.6 million.

Palmer is attempting to situation Western Australian authorities that was rushed done to artifact him from claiming astir $30 cardinal successful damages successful 2020 complete a determination to cull his projected Balmoral South robust ore task successful Pilbara - a sum which officials said would person bankrupted nan state.

After an unsuccessful bid successful nan High Court, a Singaporean finance institution owned by Palmer brought nan matter earlier nan Permanent Court of Arbitration, an intergovernmental organisation.

The lawsuit based on breaches against nan Asean-Australian-New Zealand free waste and acquisition agreement.

Foreign investors person nan correct to declare compensation for rule aliases argumentation changes that trim early profits successful an world tribunal.

Palmer is an Australian citizen.

He is besides nan 5th richest successful nan state pinch a nett wealthiness of $20.12 billion, according to nan Australian Financial Review.

Attorney-General Michelle Rowland said nan tribunal unanimously rejected nan lawsuit yesterday, saying it had nary jurisdiction complete nan dispute, and ordered Palmer to salary nan Commonwealth's costs of $13.6 million.

"Mr Palmer is not a 'foreign investor' and is not entitled to immoderate benefits nether Australia's free waste and acquisition and finance agreements," she said successful a statement.

"I americium pleased that nan Tribunal has accepted Australia's arguments and rejected Mr Palmer's claim.

"Australia should ne'er person had to walk 2 years and complete $13 cardinal defending an investor-state declare brought by an Australian national."

Rowland said she hoped Palmer would retreat his remaining 3 world claims against Australia, while Premier Roger Cook said he hoped nan determination would "finally adjacent nan book connected this long-running saga".

But a time later, nan billionaire launched a caller lawsuit successful Switzerland. 

Palmer has announced that he will beryllium challenging nan world tribunal's determination successful Switzerland's Federal Supreme Court. 

He said this was nan "next measurement successful nan travel to execute justness successful nan matter, hopeful of nan last arbiter taking an other position to that of nan tribunal".

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