Austral Coal Limited 02 & 02(R) - Panel Publishes Reasons
The Takeovers Panel (the Panel) has today, published its reasons for its decision in relation to an application by Glencore International A.G. and Fornax Investments Limited (together, Glencore) and an additional application by ABN AMRO Bank N.V., Australian Branch (ABM AMRO), under section 657EA of the Corporations Act 2001 (Cth) (the Act) dated 30 June 2005 in relation to the affairs of Austral Coal Limited (Austral). Glencore and ABN AMRO applied to the Panel for a review of the decision of the sitting Panel (Initial Panel) in the Austral Coal Limited 02 proceedings (Austral 02) to make a declaration of unacceptable circumstances and final orders.