High Court Remits Austral Coal 02(R) Proceedings to Federal Court

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The Panel announces that the High Court of Australia today remitted the application by Glencore International AG and Fornax Investments Limited for a review of the Panel's decision in the Austral Coal 02(R) proceedings to the Federal Court of Australia.

The High Court has also granted a stay until further order of the Panel's Restoration Orders. The Panel neither consented to nor opposed the application for a stay of the Panel's Restoration Orders.

Nigel Morris
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3501